4 ms·
Yep. Keep in mind that those numbers are taxable income not gross income. That means all deductions (including the standard deduction) except the 199A deduction
by zrail 9y ago
Yep. Keep in mind that those numbers are taxable income not gross income. That means all deductions (including the standard deduction) except the 199A deduction itself apply before the 199A deduction. Even if you make a huge amount of gross income you can get below that threshold fairly easily by, for example, setting up a 401(k) and a defined benefit pension plan.