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New Member
posted Apr 11, 2025 8:13:25 PM

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

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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.