Qualified business income on Schedule C: what is it? I have an honorarium that I entered and I have no expenses. TT is asking if "Qual business inc - yes or no".
I received an honorarium in 2018 and got a 1099-MISC. When I entered the amount under section '1099-MISC and other income'. TT has it under the 'Business Income' section and asked questions about Schedule C, including Qualified business income.
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1 Replies
Ashby
New Member
Jun 6, 2019 12:28:05 AM
Yes, if the honorarium was received as payment for some type of professional services in your field, I would say that this would be eligible for QBI which will get you a deduction from taxes.