AICPA Recommendation to Amend Qualified Business Income Deduction

The AICPA recommends that Congress broaden the QBI deduction by increasing the $50,000 (non-joint returns) and $100,000 (joint returns) amounts under section 199A(b)(3)(B) and section 199A(d)(3)(A), which will prevent taxpayers within the phase-in range from experiencing significant reductions of the QBI deduction for exceeding the SSTB threshold amounts. We also recommend that these QBI limitation phase-in range amounts be adjusted for inflation annually.