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Is this activity a qualified trade or business under Section 199A?

I am filing my taxes for the first time, with my sole prop. business. It is in candle making.

I am not sure if this qualifies or not, can someone assist? 

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1 Reply
Shannon B1
Expert Alumni

Is this activity a qualified trade or business under Section 199A?

Yes, your business would qualify as a trade or business under Section 199A. This section allows most self-employed individuals and small business owners to exclude up to 20% of their qualified business income from federal income taxes.

 

Here's a TurboTax Help Article with more information on this topic.  

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