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The deduction cannot exceed the gross income from the business, less the deductions allocable to that business.—
Kelly Phillips Erb,
Forbes.com,
10 Apr. 2026 However, the definition of wages continues to state that the amount cannot include any amount which is not properly allocable to qualified business income.—
Lynn Mucenski Keck,
Forbes,
14 Mar. 2022 Net profits allocable to the Net Profits Interest were $6,312,156, compared to $2,850,857 in the previous year, with the increase attributed to higher oil and natural gas sales.—
Quartz Bot,
Quartz,
14 Nov. 2024