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QBI Deduction and SSTB for honoraria

Home Tax Reduction QBI Deduction and SSTB for honoraria

  • Avatar rockymed 
    Participant
    Status: Physician
    Posts: 1
    Joined: 02/07/2019

    I am a W2 salaried physician married filing jointly 315k-415k.

    I have made money (given several 1099-MISC) by doing surveys which generated honoraria.  I fill out a schedule C and pay taxes including self-employment tax.

    When filling out my return on tax software, I was listed as getting the Qualified Business Income Deduction.

     

    My questions are these:

    1. Should I be getting the QBI Deduction with earning honoraria is listed as a business for me.  I do do the surveys regularly throughout the year.

    2. Am I a Specified Service Trade or Business?  The IRS is not clear on this in that it states in the new guidelines that physicians providing medical services directly to a service recipient are SSTB, but what about when the money is earned through completing online surveys and has nothing to do with patient care??

    Any help with this would be appreciated.

     

    #188975 Reply
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3997
    Joined: 01/08/2016

    if your total income is under the threshold then yes you can qualify.

    #189463 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 7797
    Joined: 01/09/2016

    Sounds like you qualify to me. I do not believe filling out surveys qualified as a SSTB so the income thresholds would not apply. But that’s jmpo.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #189477 Reply

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