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QBI qualification

monicac
Level 3

Can a sole proprietor that sells vitamins or promotional products qualify for QBI?

How about someone who rents out their commercial property?

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Terry53029
Level 11
Level 11

monicac, you should do some research on QBI if you are preparing taxes for clients that might qualify for the deduction. Here is a starting point:

https://www.irs.gov/newsroom/facts-about-the-qualified-business-income-deduction#:~:text=QBI%20is%20....

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2 Replies 2
abctax55
Level 15

Yes, assuming both activities rise to the level of a trade or business.

Which is determined by the facts & circumstances.

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

If a post answers your question, click on *Accept as solution* for future searches
Terry53029
Level 11
Level 11

monicac, you should do some research on QBI if you are preparing taxes for clients that might qualify for the deduction. Here is a starting point:

https://www.irs.gov/newsroom/facts-about-the-qualified-business-income-deduction#:~:text=QBI%20is%20....

View solution in original post