Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Jan 19, 2023 12:06:29 PM

Do I qualify for the QBI deduction? I do not own a business but I am self employed.

I am unsure if I qualify for the QBI deduction or not. I got a 1099-NEC form back because I am self employed, but I do not know if I qualify for this deduction or not.

0 6 1005
1 Best answer
Level 15
Jan 19, 2023 12:22:12 PM

Yes, whether you are aware of it or not, you actually do have a "trade or business" if you are self-employed (i.e., an independent contractor).

6 Replies
Level 15
Jan 19, 2023 12:13:25 PM
Level 1
Jan 19, 2023 12:15:29 PM

I did read over that but I am still just a bit confused. 

Level 15
Jan 19, 2023 12:17:00 PM

Confused about what, exactly? There is an income limitation but it is not really much more complicated than that if you have an active trade or business.

Level 1
Jan 19, 2023 12:18:48 PM

I don't actually own a business but I work for a company that I am self employed through. I saw some articles that said some self-employed individuals may qualify but I wanted to clarify if that was correct or not. 

Level 15
Jan 19, 2023 12:22:12 PM

Yes, whether you are aware of it or not, you actually do have a "trade or business" if you are self-employed (i.e., an independent contractor).

Level 1
Jan 19, 2023 12:22:53 PM

Thank you!