AnnetteB6
Expert Alumni

Deductions & credits

Yes.  The key difference is if your work as a consultant is substantially the same as your work had been as an employee.  If it is the same, then after three years you would be eligible to claim the Qualified Business Deduction (QBI).  

 

If you are performing a different function as a consultant, then you are eligible to claim the QBI deduction now.  In this case though you would need documentation to back this up.

 

@canaguerre 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post