If you have self employment income that is reported on your tax return via a K-1 or Schedules C, E (not all rental activity qualifies), or F, and the income is qualified business income, then you are eligible for the Qualified Business Income deduction to be reflected on your return. The QBI deduction is reported on line 9 of the 1040 form.
Per the IRS, qualified business income is defined as:
Your qualified business income includes
items of income, gain, deduction, and
loss from your trades or businesses that
are effectively connected with the conduct of a trade or business within the
Unites States. This includes income
from partnerships (other than PTPs), S
corporations, sole proprietorships, and
certain trusts that are included or allowed in determining your taxable income for the year. It also includes other
deductions attributable to the trade or
business including, but not limited to,
deductible tax on self-employment income, self-employed health insurance,
and contributions to qualified retirement
plans. https://www.irs.gov/pub/irs-pdf/i1040gi.pdf
You can also see more information about the QBI deduction, including examples of how it is calculated, in the FAQ below:
