TT is trying to give me a qualified business income deduction. But I don't have a business. I report an NEC each yearly due to honorarium for mentoring medical students
01948
1 Replies
DawnC
Expert Alumni
Apr 11, 2025 8:29:17 PM
If the income is reported on Schedule C, it will qualify for the Qualified Business Income (QBI) deduction. Do you have a Schedule C in your return?
Do you have any Form 1099-DIVs with amounts in Box 5? If so, those qualify for QBI too.