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Jackson, who is single, is a farmer and files Schedule F. He had a net...

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Accounting

Jackson, who is single, is a farmer and files Schedule F. He had a net profit from the farm of $96,550 (after factoring in the self-employment adjustments to his income). He has no loss to carry forward from prior years. Jackson's taxable income, before applying the QBI deduction is $147,966. What is Jackson's QBI deduction? 0, he is not eligible for the QBI deduction. $10,283; 20% of the difference between his taxable income and his farm profit. $19,310; 20% of his farm profit. $29,593; 20% of his taxable income

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