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Get your taxes done using TurboTax
Yes, you will answer yes to the question about starting or closing your business since it's a one time job for self employment (independent contractor).
You should answer yes to the qualified business income deduction (QBID) questions. The self employment by design is a business and entitles you to this deduction and TurboTax will calculate it for you.
This is a special deduction that came about with the Tax Cuts and Jobs Act (TCJA) for 2018-2025, to give businesses a special deduction.
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March 22, 2022
9:41 AM