Is 1099-NEC income from being a director on a rural electric board considered qualified income

posted

Connect with an expert

3 Replies

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Generally income as a board director is subject to self employment tax. You can deduct any expenses related to that activity.

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Q. Is 1099-NEC income from being a director on a rural electric board considered qualified business income (QBI) for the Qualified business income deduction (line 13 of form 1040)?

A. Yes.

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Thank you!!

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Do you have an Intuit account?

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Is 1099-NEC income from being a director on a rural electric board considered qualified income

Unlock tailored help options in your account.

Get more help

Related Content