Question

In the past there was a credit for self employment being 100% based in the US...is there still such a credit?

Forum|Forum|5 years ago
February 14, 2021
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TurboTax Self Employed Online

Not a credit, but a deduction is available. The qualified business income (QBI) deduction allows a 20% deduction on business income for qualified US based businesses (partnerships, S corporations, sole proprietorships, and certain trusts).

Here is a link with more information on the QBI deduction.

When you complete the self-employment interview in TurboTax you will also be asked questions about the Qualified Business Income deduction. The calculations will be done for you.

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