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- Is this director eligible for qbi?
Is this director eligible for qbi?
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tonycpa
Level 3
05-17-2022
12:51 PM
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Is this director eligible for the qbi deduction?
The director is on the Management Fund Board for a portfolio management company.
The director receives a 1099NEC for $161,000
A board director in this case is a 15 year term.
The director is unrelated to the company now.
The director was never an employee of the company, or related to the company in the past.
The director takes 1 to 2 weeks of preparation time before each quarterly board meeting.
It seems to me this could be considered consulting, and is eligible for QBI.
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