income from which source is not eligible for the new 20% deduction for qualified business income a. income from a partnership reported on sch e b. income from s corp reported on sch e c. form w-2 wages reported on form 1040 line 7 d. profit or loss from the business of the sole proprietor reported on sch c
Solution : The correct option is “ c “ i.e Form w-2 wages reported on form 1040 line 7
The Owner of the following are entitiled to a deduction equal to 20% of the "qualified business income" earned from the business:
Whereas Form w-2 wages reported on form 1040 line 7 contains wages , salaries and other earnings and therefore these not a business income in the first place to be qualified for this deduction of 20% on the qualified business income.
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