not sure if I qualify for QBI

[Bonniebirch]

I am a musician. I am sole proprietor of my business and my income is $60,000. I believe I qualify for the QBI discount. Do I check the QBI box on the tax form even though my business is SSTB?

[tagteam]

---

@Bonniebirch wrote:

I am a musician. I am sole proprietor of my business and my income is $60,000. I believe I qualify for the QBI discount. Do I check the QBI box on the tax form even though my business is SSTB?

---

The fact that your business is considered to be an SSTB only imposes an income limitation. See answers to questions 5 and 6 at the IRS site below.

https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-i...

[Anonymous]

yes you check the QBI box.  in addition you need to check the box that identifies it as a SSTB

in the qbi section of schedule C there is line K.  you need to create a link to a QBI worksheet for it to work.   (double click on box,  a window will pop up with a note saying enter something - anything works but it might be best to enter either musician or schedule c)  the box will probably be pink before hand.  

note in computing the QBI deduction, QBI income is reduced by 1/2 the se taxes, se health insurance and related qualified retirement plan contributions.