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Do I qualify for QBI if I receive a 1099-MISC. I work as an independent contractor in my home for a website.

I am itemizing home office expenses and received a 1099-MISC for work as an independent contractor for a website. 

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DanielV01
Expert Alumni

Do I qualify for QBI if I receive a 1099-MISC. I work as an independent contractor in my home for a website.

Yes, Sole Proprietors can qualify for QBI.  Work as a Sole Proprietor, or a contractor,  is considered Qualified Business income (as long as it is not derived from a Foreign Source).  How much QBI will calculate on your return will depend on a number of other factors, however.  (It is a very complicated formula).  

To help you understand what you may be entitled to claim, please see the following FAQ: What is the Qualified Business Income (QBI) deduction? 

 

[Edited 4/11/2020 to improve link]

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2 Replies
DanielV01
Expert Alumni

Do I qualify for QBI if I receive a 1099-MISC. I work as an independent contractor in my home for a website.

Yes, Sole Proprietors can qualify for QBI.  Work as a Sole Proprietor, or a contractor,  is considered Qualified Business income (as long as it is not derived from a Foreign Source).  How much QBI will calculate on your return will depend on a number of other factors, however.  (It is a very complicated formula).  

To help you understand what you may be entitled to claim, please see the following FAQ: What is the Qualified Business Income (QBI) deduction? 

 

[Edited 4/11/2020 to improve link]

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

Do I qualify for QBI if I receive a 1099-MISC. I work as an independent contractor in my home for a website.

Thank you for the concise answer! 🙂

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