2246299
I was using Turbotax Deluxe and I had some 1099 income for the last couple of years. I don't remember I ever saw any 8995/8995-A added to my tax return.
Is any 1099 income possible to be eligible for 8995/8995-A?
Thank you!
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1099 income that is considered self-employment income generally qualifies for the Qualified Business Income (QBI) Deduction. For 2020, this income is reported on Form 1099-NEC.
Rental income reported on 1099-MISC may qualify for QBI. See IRS finalizes safe harbor to allow rental real estate to qualify as a business for qualified busines....
Some dividend income reported on 1099-DIV may qualify for QBI. If so, there will be an amount on Box 5 Section 199A dividends.
1099 income that is considered self-employment income generally qualifies for the Qualified Business Income (QBI) Deduction. For 2020, this income is reported on Form 1099-NEC.
Rental income reported on 1099-MISC may qualify for QBI. See IRS finalizes safe harbor to allow rental real estate to qualify as a business for qualified busines....
Some dividend income reported on 1099-DIV may qualify for QBI. If so, there will be an amount on Box 5 Section 199A dividends.
@ErnieS0 Thanks for your reply.
I have another job and received a w2 from my employer at the same time. Does it matter for me to apply for Qualified Business Income (QBI) Deduction? Or will Turbox tax add this document for me?
It is done automatically.
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