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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 12
Level 12

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..oops..AllStar...I used to be a people person, then people ruined it


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Terry53029
Level 12
Level 12

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