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Level 2
posted Mar 9, 2022 1:10:58 PM

Pay for contact work considered wages or QBI?

If I was paid for contact work (electronic deposit directly to my account) but no taxes were withheld and I did not receive any 1099 at all from the company...is this considered "wages" or can I claim it as QBI (Qualified Business Income) on my return?

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1 Replies
Expert Alumni
Mar 9, 2022 1:17:14 PM

Yes, if this is income that is reported on your Schedule C it will be included along with your other income when QBI is calculated.