I am self employed but I received a 1099 NEC - can I still claim my profit as a Qualified Business Income (QBI)
the NEC is for those who are self-employed. you can either enter the form and all info or enter on schedule C as if you didn't receive the form. the IRS does not get the detail of the NEC entries only the total revenue reported on schedule C.
I am self employed but I received a 1099 NEC - can I still claim my profit as a Qualified Business Income (QBI)
I missed typed. I wanted to know if I can still claim my profit as a Qualified Business Income (QBI) if I received a 1099 NEC as part of the overall income for my business.
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