QBI & W2

Hi everyone,

I have a question. I established a LLC in 2019, but I also worked full time & received a W2 from my employer. I want to know if my LLC qualifies for the QBI deduction. I am very confused if it will have anything to do with my wages earned as an employee, even though they are two completely different things. One is my full-time job & my LLC is my side business. In advance, thank you for your help!

posted

wages do not qualify for the QBI deduction. your LLC may qualify but that depends on a lot of factors. there is a section on the Schedule C worksheet for QBI info.