If I was self-employed doing pay-by-hour admin tasks for a friend's LLC business and wasn't a W-2 or 1099 employee, does my work/pay count as Qualified Business Income?
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If I was self-employed doing pay-by-hour admin tasks for a friend's LLC business and wasn't a W-2 or 1099 employee, does my work/pay count as Qualified Business Income?
I worked with my friend, creating forms and reports, packaging and mailing, etc, and he paid me based on an invoice for hourly work. I never got a W-2 or 1099 for the two years I worked for him, so can I claim my pay as Qualified Business Income?
If I was self-employed doing pay-by-hour admin tasks for a friend's LLC business and wasn't a W-2 or 1099 employee, does my work/pay count as Qualified Business Income?
Yes. Based on the information you're providing, the income you received for this work is considered income from self-employment and is Qualified Business Income. You will report this income and related expenses on Schedule C of your return.
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