Qualified Business Income qualification

monster50 · ‎March 6, 2022

Is a licensed real estate agent that works for a brokerage firm under an
Real Estate Independent Contractor Agreement who is issued a 1099- NEC eligible for the (Qualified Business Income Deduction.) QBI Deduction. Only earns commission. (nonemployee Compensation) No taxes withheld

AliciaP1 · ‎March 6, 2022

Yes, the limitation on QBI comes from rental real estate activities. As a contract licensed real estate agent, you are self-employed and earn Qualified Business income.

For more on what qualifies as QBI you can see Do I qualify for the qualified business income deduction?

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AliciaP1 · ‎March 6, 2022

Yes, the limitation on QBI comes from rental real estate activities. As a contract licensed real estate agent, you are self-employed and earn Qualified Business income.

For more on what qualifies as QBI you can see Do I qualify for the qualified business income deduction?

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