PatriciaV
Employee Tax Expert

Deductions & credits

Yes, mark the income as QBI if your business qualifies (see below). This topic appears under the Other tab of Federal Taxes. Follow the prompts to answer all related questions and TurboTax will do the rest. Check out the blue "learn more" links for additional help.

 

In order for income to be eligible for this deduction, there are a few criteria that must be met:

  1. The activity must be a "trade or business."
  2. The activity must be US-based.
  3. The income must not be "wages."

For more info, see this IRS article: Tax Cuts and Jobs Act, Provision 11011 Section 199A - Qualified Business Income Deduction FAQs

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