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K13
New Member

For the QBI, it asks if your work is for a former employer. Is there a year limit on that? I worked there almost 7 years ago. Do I still say yes?

 
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Accepted Solutions
rjs
Level 15
Level 15

For the QBI, it asks if your work is for a former employer. Is there a year limit on that? I worked there almost 7 years ago. Do I still say yes?

Yes, there is a time limit. Under the regulations issued by the IRS, if you are working for a former employer as a contractor, doing substantially the same work that you did as an employee, you are ineligible for the QBI deduction for 3 years after you stopped being an employee. So if it's been 7 years since you were an employee, you should answer No.

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2 Replies
Ashby
New Member

For the QBI, it asks if your work is for a former employer. Is there a year limit on that? I worked there almost 7 years ago. Do I still say yes?

You should probably say yes.
rjs
Level 15
Level 15

For the QBI, it asks if your work is for a former employer. Is there a year limit on that? I worked there almost 7 years ago. Do I still say yes?

Yes, there is a time limit. Under the regulations issued by the IRS, if you are working for a former employer as a contractor, doing substantially the same work that you did as an employee, you are ineligible for the QBI deduction for 3 years after you stopped being an employee. So if it's been 7 years since you were an employee, you should answer No.

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