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April 12, 2025
Question

TT is trying to give me a qualified business income deduction. But I don't have a business. I report an NEC each yearly due to honorarium for mentoring medical students

  • April 12, 2025
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1 reply

DawnC
April 12, 2025

If the income is reported on Schedule C, it will qualify for the Qualified Business Income (QBI) deduction.   Do you have a Schedule C in your return?  

 

Do you have any Form 1099-DIVs with amounts in Box 5?   If so, those qualify for QBI too.  

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