turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

tcole825
New Member

I am a self employed Insurance Agent. I get 1099 from the companies I work for. I go to people's homes and enroll them. Will I be able to get QBI 20% deduction?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

5 Replies

I am a self employed Insurance Agent. I get 1099 from the companies I work for. I go to people's homes and enroll them. Will I be able to get QBI 20% deduction?

tcole825
New Member

I am a self employed Insurance Agent. I get 1099 from the companies I work for. I go to people's homes and enroll them. Will I be able to get QBI 20% deduction?

The answer is not clear.  I am a self employed Medicare sales agent.  I receive 1099 and run my business from my home.  I do not seem to fit into the excluded list you mention above.  I believe I am able to receive this deduction.  Do you agree?

I am a self employed Insurance Agent. I get 1099 from the companies I work for. I go to people's homes and enroll them. Will I be able to get QBI 20% deduction?

Nothing in your posts indicate that you don't qualify for it, which means you likely do qualify for it.
brightmark
Returning Member

I am a self employed Insurance Agent. I get 1099 from the companies I work for. I go to people's homes and enroll them. Will I be able to get QBI 20% deduction?

I'm finding that TurboxTax is not identifying my 1099-misc income as QBI for the 20% discount when I identify my work as 'insurance'. If I change it to 'consulting' and leave all numbers the same, TurboTax will generate Form 8995 with the income as QBI and the 20% deduction. 

 

The income should qualify. Any ideas why it is not?

 

@tcole825 

ColeenD3
Expert Alumni

I am a self employed Insurance Agent. I get 1099 from the companies I work for. I go to people's homes and enroll them. Will I be able to get QBI 20% deduction?

Since "insurance" is not an occupation, entering sales or consultant is what will work.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies