Submitted By: someone
Answered: September 1, 2022 3:56 am

Can a minister qualify for the QBI deduction?

A minister may be eligible for the qualified business income (QBI) deduction if he or she performs weddings, funerals, or other activities the income from which is reported on Schedule C. Wages received from an employer do not qualify for the QBI deduction.

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Tax Glossary

Active participation

Test for determining deductibility of IRA deductions. Active participants in employer retirement plans are subject to IRA deduction phase-out rules if adjusted gross income exceeds certain threshold.

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