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Get your taxes done using TurboTax
Hello- I have an established SSTB but also retired last year from my position at a college. My former employer contracted me as an independent for services to bridge the gap until a replacement is found. Turbo Tax wants to treat that income from 1099-NEC as an adjustment to my QBI. I am confused why, and if that is correct. I was not an employee and received no benefits from them while working as an independent contractor, just as with my other clients for that SSTB. Is income from a former employer in every situation always non-QBI? What if they continue to contract my service independently next year? Is that QBI? Thanks you! Dennis.
March 12, 2023
12:15 PM