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Level 2
June 4, 2019
Question

I am a self employed Insurance Agent. I get 1099 from the companies I work for. I go to people's homes and enroll them. Will I be able to get QBI 20% deduction?

  • June 4, 2019
  • 5 replies
  • 30 views
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5 replies

tcole825Author
Level 2
June 4, 2019
The answer is not clear.  I am a self employed Medicare sales agent.  I receive 1099 and run my business from my home.  I do not seem to fit into the excluded list you mention above.  I believe I am able to receive this deduction.  Do you agree?
Level 2
March 2, 2020

I'm finding that TurboxTax is not identifying my 1099-misc income as QBI for the 20% discount when I identify my work as 'insurance'. If I change it to 'consulting' and leave all numbers the same, TurboTax will generate Form 8995 with the income as QBI and the 20% deduction. 

 

The income should qualify. Any ideas why it is not?

 

@tcole825