Qualified Business Income Deduction by renting a room in my home

Forum|Forum|7 years ago
April 15, 2019
1 reply
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Hi,

I am a teacher, and I rent out a room in my home to make ends meet. I am filling out my taxes using turbo tax, claiming the income with Form E, and it is having me review a question I missed about qualified business income (yes or no). If I am living in my house and renting out a bedroom within the residence, do I qualify for the qualified business income deduction? I am very confused, and help would definitely be appreciated.

Thanks.

P

PaulaM

Employee

Yes, as long as you meet the IRS definition of a trade or business you can qualify for the qualified business income deduction (QBI). See this link for reference.

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