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Do I qualify for the QBI deduction? I do not own a business but I am self employed.

Forum|Forum|3 years ago
January 19, 2023
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I am unsure if I qualify for the QBI deduction or not. I got a 1099-NEC form back because I am self employed, but I do not know if I qualify for this deduction or not.

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Best answer by Anonymous_

I don't actually own a business but I work for a company that I am self employed through. I saw some articles that said some self-employed individuals may qualify but I wanted to clarify if that was correct or not.

Yes, whether you are aware of it or not, you actually do have a "trade or business" if you are self-employed (i.e., an independent contractor).

A

Anonymous_

See https://www.irs.gov/instructions/i8995#en_US_2022_publink1000294645

K

kyla495993Author

I did read over that but I am still just a bit confused.

A

Anonymous_

Confused about what, exactly? There is an income limitation but it is not really much more complicated than that if you have an active trade or business.