What is "qualified business income"?

[soccrates47]

I received a "deferred payment" from a fire department.  It's sort of like a pension, although technically not. It's from a length of service award program.  In the past, it as always gone under "other income."  Now I don't see that line on the 1040, and TurboTax is treating it as business income -- putting it on a Schedule C.  THEN it needs to know if this is "qualified business income."  Since it's not business income at all and I don't have a clue what qualified business income is, I have no idea how to answer that question.

[Coleen3]

Is it in box 3 or 7 of the 1099? Has it always been in the same box?

[soccrates47]

It's in box 3, and, yes, it's always been in the same box.

[soccrates47]

Thank you!!

[msyzdek57]

This does not answer the question of "what is qualified business income"?

[Coleen3]

That's because his question was really about something different.
 https://www.irs.gov/newsroom/qualified-business-income-deduction

[Coleen3 · Accepted solution]

Delete your Schedule C and follow the steps below.

• Click on the Federal taxes tab
• Click on Wages and Income
• Continue and I'll Choose What I Work On
• Scroll down to Other Common Income
• Next to "Income from Form 1099-MISC", click the start (or update) button
• Enter the amounts and information from your 1099-MISC

Here are the steps for deleting unwanted forms in TurboTax Online:

1. Open your return in TurboTax. (To do this, sign in to TurboTax, and select the Take me to my return button.)
2. In the left side bar, select Tax Tools> Tools.
3. In the pop-up window Tool Center, choose Delete a form.
4. Select Delete next to the form/schedule/worksheet and follow the onscreen instructions