I have been a longtime locally elected official (planning board) and receive a 1099-NEC for the annual stipend which is $1,000. In years past I have claimed this as QBI and take a home office deduction.
Last year, I was additionally elected to a three year term to serve on the board of a local community bank. I have also received a 1099-NEC. This is a paid board position and earns $20,000 annually.
Are both or either of these qualify as QBI? Also, any idea what is the proper business code is that I should be using? I have been using 9999