complete the following statements regarding the general rules for the qbi deduction and how is it computed. the qbi deduction is available to noncorporate taxpayers. it applies to the qualified business income generated through a sole proprietorship, a partnership, or an s corporation . in general, the deduction for qualified business income is the lesser of: fill in the blank 4 % of qualified business income, or fill in the blank 5 % of modified taxable income.