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Returning Member
posted Feb 28, 2021 11:55:07 AM

I am self employed but I received a 1099 NEC - can I still claim my profit as a Qualified Business Income (QBI)

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2 Replies
Level 15
Feb 28, 2021 11:57:12 AM

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. 

Returning Member
Feb 28, 2021 11:59:05 AM

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.