Updated 8/23/2019 with 2019 threshold amounts. See list of updates below spreadsheet.
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- Enter taxpayer information in the top left table such as filing status, taxable income, net capital gains, and various dividends as applicable. Notice when filing status is changed, figures in the top center table also change for applicable threshold, phase-in range, and applicable percentage.
- Enter the name(s) of the general business activity(ies) and the specified service activity(ies) in the middle section. Also enter here W-2 wages paid, and unadjusted basis of qualified property. Trade or business QBI is now entered on the new "Net QBI by business" tab. Notice the calculation of 20% QBI and the percentage of wage calculations.
- Trade or business QBI and certain deductions related thereto must now be entered on the new "Net QBI by business" tab.
- Cells containing formulas are inaccessible. For those interested, key formulas are reproduced on the ‘Formulas’ tab.
Updated August 23, 2019
- Updated with 2019 threshold amounts including the separate amount applicable to MFS taxpayers.
Updated February 7, 2019
- Net capital gain includes qualified dividends.
- Only the applicable % of gross QBI/QBL for SSBs is taken into account pursuant to Treas. Reg. §1.199A-1(d)(2)(i) for the QBI/QBL netting process.
- Deductions such as the deductible portion of the tax on self-employment income under section 164(f), the self-employed health insurance deduction under section 162(l), and the deduction for contributions to qualified retirement plans under section 404 are considered attributable to a trade or business to the extent that the individual’s gross income from the trade or business is taken into account in calculating the allowable deduction, on a proportionate basis (see Treas. Reg. §1.199A-3(b)(1)(vi)).