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taxesohmy2017
Level 3

I file Married Joint. Me and my husband each own and operate our own sole proprietor businesses - photography and drywall. Would we each qualify for the QBI deduction?

On our Federal 1040 we file married joint and we each enter in our own Schedule C for our own business.  We are not sure if only one business qualifies for QBI or both.  Looks the QBI takes into account both businesses, however were are just making sure this is correct.

Thank you in advance for your assistance.

1 Best answer

Accepted Solutions
JulieR
New Member

I file Married Joint. Me and my husband each own and operate our own sole proprietor businesses - photography and drywall. Would we each qualify for the QBI deduction?

Yes, based on your description, both yours and your husband' businesses qualify for the Qualified Business Income Deduction.
Please see the following TurboTax FAQ that explains the Qualified Business Income Deduction in further detail. https://ttlc.intuit.com/replies/7036528

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2 Replies
JulieR
New Member

I file Married Joint. Me and my husband each own and operate our own sole proprietor businesses - photography and drywall. Would we each qualify for the QBI deduction?

Yes, based on your description, both yours and your husband' businesses qualify for the Qualified Business Income Deduction.
Please see the following TurboTax FAQ that explains the Qualified Business Income Deduction in further detail. https://ttlc.intuit.com/replies/7036528
taxesohmy2017
Level 3

I file Married Joint. Me and my husband each own and operate our own sole proprietor businesses - photography and drywall. Would we each qualify for the QBI deduction?

Thank you very much!

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