Question

Do I get a QBI for a legal settlement?

Forum|Forum|4 years ago
April 5, 2022
1 reply
0 views

I have a legal settlement for unpaid back wages and related damages. TurboTax says I can get a Qualified Business Income deduction for this, but I have doubts, and I can't turn it off.

TurboTax Deluxe Online

M

MinhT1

A legal settlement for unpaid wages is not business income and is not eligible for the QBI deduction.

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M

mcgibbslapAuthor

I didn't think so, but I don't see any way of turning it off.

J

JamesG1

Is filling out the SS-8 a service TurboTax can assist me with if I elect to work with a tax expert?

TurboTax Live Help would likely not be able to assist in preparing IRS Form SS-8.

Firms and workers file IRS Form SS-8 to request a determination of the status of a worker under the common law rules for purposes of federal employment taxes and income tax withholding. Instructions are here.

Send the completed and signed Form SS-8 to:

Internal Revenue Service
Form SS-8 Determinations
P.O. Box 630
Stop 631
Holtsville, NY 11742-0630

Faxed, photocopied, or electronic versions of Form SS-8 are not acceptable for the initial request for the Form SS-8 determination.

Do not submit Form SS-8 with your tax return as that will delay processing time.

@mcgibbslap

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