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QBI qualification

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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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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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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.
If a post answers your question, click on *Accept as solution* for future searches
Highlighted
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