Question

Qualified Business Income Deduction

Forum|Forum|2 years ago
April 12, 2023
1 reply
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In January of 2022, I retired from my job in education (K-12) as a Principal on Special Assignment (POSA). I then applied for my pension and started retirement. My husband and I started a business. I did sub-contracting work with a post secondary school and my husband retired in June 2022 and does sub-contracting work as a track timer. All of which was done as the business. The same district did not find someone to replace me and hired our business back to complete the school year. Do I qualify for Qualified Business Income Deduction. I believe I check the other boxes.

TurboTax Home & Biz Windows

B

Bsch4477

Any income from your self employment qualifies for QBI. If any income is from a W-2 that income would not. It is not unusual to have both W-2 and self employment income in the same return.