Do I qualify for QBI if I receive a 1099-MISC. I work as an independent contractor in my home for a website.

Forum|Forum|7 years ago
June 6, 2019
1 reply
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I am itemizing home office expenses and received a 1099-MISC for work as an independent contractor for a website.

TurboTax Home & Biz Windows

Best answer by DanielV01

Yes, Sole Proprietors can qualify for QBI. Work as a Sole Proprietor, or a contractor, is considered Qualified Business income (as long as it is not derived from a Foreign Source). How much QBI will calculate on your return will depend on a number of other factors, however. (It is a very complicated formula).

To help you understand what you may be entitled to claim, please see the following FAQ: What is the Qualified Business Income (QBI) deduction?

[Edited 4/11/2020 to improve link]

DanielV01Answer

Employee

Yes, Sole Proprietors can qualify for QBI. Work as a Sole Proprietor, or a contractor, is considered Qualified Business income (as long as it is not derived from a Foreign Source). How much QBI will calculate on your return will depend on a number of other factors, however. (It is a very complicated formula).

To help you understand what you may be entitled to claim, please see the following FAQ: What is the Qualified Business Income (QBI) deduction?

[Edited 4/11/2020 to improve link]

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