Question

Am I Eligible for the QBI?

Forum|Forum|7 years ago
January 27, 2019
1 reply
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I am an independent contractor and always have been. Am I eligible for the QBI?

Yes, you most likely will qualify for the Qualified Business Income Deduction. QBI is the net amount of qualified items of income, gain, deduction and loss from any qualified trade or business. Only items included in taxable income are counted. In addition, the items must be effectively connected with a U.S. trade or business. Items such as capital gains and losses, certain dividends and interest income are excluded.

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