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April 16, 2020
Question

QBI Deduction

  • April 16, 2020
  • 1 reply
  • 0 views

My husband was a private contractor for most of 2019 for a museum.  He was hired full time in October to do the same job that he had been doing previously.  Does that 1099 income qualify for the QBI deduction since he was self-employed first? 

1 reply

DaveF1006
April 16, 2020

Yes, if he has a net profit after deducting expenses from his 1099 MISC, he should be eligible for a QBI deduction up to 20% of the net profit amount.

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