Do I qualify for QBI(Qualified Business Income)

[Username01]

Hello,

I do not own a business but because I sell items through eBay, I have received 1099-K. I was viewed as a business.

1099-K Gross income for my business -$157,803.00

I also worked at a company for few months and I've got an W2 from them

W2 - 36,255

Do I qualify for Qualified Business Income?

Thank you for your time.

John

[DavidD66]

You may not realize it, but your activity selling on E-Bay is a business, and you are considered self-employed. You probably qualify for a Qualified Business Income (QBI) deduction depending on your income.  Qualification is determined by a taxpayer's total taxable income, including wages, investment income, etc. in addition to business income. Once the taxable income reaches or exceeds $164,900 ($329,800 if filing jointly), the type of business also comes into play.

For more information on the QBI Deduction see the following TurboTax Help article:

What is the Qualified Business Income (QBI) deduction?

[Username01]

Taxable income is frequently referred to as adjusted gross income or adjusted income minus deductions or exemptions -  is it correct?

Is my Taxable Income the same as net income?Because my net income is lower than 164,900

Later edit - The gross income on 2021 W2 is 36,255

Thank you for your time and patience.

John

[DavidD66]

Taxable Income is line 11b on page one of Form W-2.  It is Adjusted Gross Income less your standard or itemized deductions.

[Username01]

On my W2 line 11b is empty, however I understand the picture.

Thank you so much for taking the time to respond to my question

Have a great day!