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Level 1
posted Feb 18, 2024 5:10:57 AM

QBI deduction for indepent contracting for 3 months

I worked a full time w-2 position until September 2023, and then after 5 weeks off,  worked as an 1099-NEC independent contractor (computer/cloud consultant) with another company for the remainder of the year. 

 

Can I take the full QBI deduction?  My total income for the year falls within the limits.

 

Thanks

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1 Replies
Expert Alumni
Feb 18, 2024 5:14:04 AM

Yes, you can take the full QBI deduction, based on your business income.

 

Please read this TurboTax Help article for more information.