26 U.S. Code § 199A - Qualified business income
Such term shall not include any amount which is not properly allocable to qualified business income for purposes of subsection (c)(1).
The term “qualified business income” means, for any taxable year, the net amount of qualified items of income, gain, deduction, and loss with respect to any qualified trade or business of the taxpayer. Such term shall not include any qualified REIT dividends, qualified cooperative dividends, or qualified publicly traded partnership income.
Taxable income shall be computed without regard to the deduction allowable under this section.
The term “threshold amount” means $157,500 (200 percent of such amount in the case of a joint return).
Rules similar to the rules under section 199(d)(1)(B)(i) (as in effect on December 1, 2017) for the apportionment of W–2 wages shall apply to the apportionment of W–2 wages and the apportionment of unadjusted basis immediately after acquisition of qualified property under this section.
In the case of any taxpayer with qualified business income from sources within the commonwealth of Puerto Rico, if all such income is taxable under section 1 for such taxable year, then for purposes of determining the qualified business income of such taxpayer for such taxable year, the term “United States” shall include the Commonwealth of Puerto Rico.
The deduction under subsection (a) shall only be allowed for purposes of this chapter.
The amount determined under paragraph (1) shall not exceed the taxable income of the specified agricultural or horticultural for the taxable year.
This section shall not apply to taxable years beginning after December 31, 2025.
 So in original. Probably should be “7704(b))”.
The enactment of subchapter T, referred to in subsec. (e)(4)(B)(ii), means the enactment of subchapter T (§ 1381 et seq.) of chapter 1 of this title, which was added by Pub. L. 87–834, §17(a), Oct. 16, 1962, 76 Stat. 1045.
Section 199(d)(1)(B)(i) (as in effect on December 1, 2017), referred to in subsec. (f)(1)(B), means section 199(d)(1)(B)(i) of this title prior to repeal of section 199 by Pub. L. 115–97, title I, § 13305(a), Dec. 22, 2017, 131 Stat. 2126.
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