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Level 4

Qualified business investor income deduction

Am seeing an entry on line 9 of 1040.  Data source takes me to QBI deduction Summary form where I find an entry for REIT dividends of $3278.  Where did this come from?  There is no data source option and none of my 1099 Div lists REIT dividends per se.  I have only $252 of REIT dividends.  And I can't seem to find any details about QBI anywhere.  Thanks

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Level 2

Qualified business investor income deduction

Yes, the Qualified Business Income deduction is calculated on REIT dividends that are reported in box 5 of a 1099 DIV form.

Per the IRS recently released Notice 2019-07, the following is a definition of the income included in the QBI deduction calculation

Congress enacted section 199A (the Qualified Business Income Deduction) to provide a deduction to non-corporate taxpayers of up to 20 percent of the taxpayer’s qualified business income from each of the taxpayer’s qualified trades or businesses, including those operated through a partnership, S corporation, or sole proprietorship, as well as a deduction of up to 20 percent of aggregate real estate investment trust (REIT) dividends and qualified publicly traded partnership income.

Plus, below is more general information about the Qualified Business Income deduction:



1 Reply
Level 2

Qualified business investor income deduction

Yes, the Qualified Business Income deduction is calculated on REIT dividends that are reported in box 5 of a 1099 DIV form.

Per the IRS recently released Notice 2019-07, the following is a definition of the income included in the QBI deduction calculation

Congress enacted section 199A (the Qualified Business Income Deduction) to provide a deduction to non-corporate taxpayers of up to 20 percent of the taxpayer’s qualified business income from each of the taxpayer’s qualified trades or businesses, including those operated through a partnership, S corporation, or sole proprietorship, as well as a deduction of up to 20 percent of aggregate real estate investment trust (REIT) dividends and qualified publicly traded partnership income.

Plus, below is more general information about the Qualified Business Income deduction: