Have Income from Rental Properties You Own? [Kiplinger]

You may be eligible to take a juicy tax break: The 20% qualified business income deduction.

Subject to a litany of rules, self-employed individuals and owners of S corporations, partnerships and LLCs can write off 20% of their qualified business income. QBI is your allocable share of income less deductions from a trade or business. It doesn’t include wages, dividends, capital gain or loss, interest income, etc. Eligible filers take the break on their 1040 return.