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March 4, 2025
Question

I don't have a small business and so what caused the qualified business income deduction to show up on my tax summary?

  • March 4, 2025
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    1 reply

    DawnC
    Employee
    March 4, 2025

    Do you have a 1099-DIV with an amount in Box 5?  Qualified business income (QBI) is the net income or loss from a trade or business. This includes income generated from partnerships, S -corporations, sole proprietorships, and some trusts.  A Real Estate Investment Trust (REIT) may be a part of a mutual fund you own.  

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