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posted Mar 10, 2025 1:56:32 PM

Why do I have a business income deduction when I do not have a business?

My Tax recap lists $12.oo business income deduction. By husband and I are both retired and no longer have our businesses .

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1 Replies
Expert Alumni
Mar 10, 2025 2:01:35 PM

You may be referring to a qualified business income deduction (QBI). That would apply to business income, but the income could come from a reporting on a Schedule K-1 or similar form or schedule you may have if you own shares in a partnership or corporation, though an investment you may have.