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Level 1

I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

I am an employee with some capital gains. I don't have any rental property. 

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Employee Tax Expert

I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

That's where your 199a deduction is coming from.  Box 5 on form 1099-DIV reports REIT (Real Estate Investment Trust) distributions.  Although REITS are not considered to be QBI, they can qualify for the Section 199A deduction.

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Employee Tax Expert

I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

Do you have a 1099-DIV with an amount in Box 5?
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Level 1

I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

yes!
Level 1

I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

Thanks for your help!
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Employee Tax Expert

I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

You're welcome
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**Mark the post that answers your question by clicking on "Mark as Best Answer"
Employee Tax Expert

I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

That's where your 199a deduction is coming from.  Box 5 on form 1099-DIV reports REIT (Real Estate Investment Trust) distributions.  Although REITS are not considered to be QBI, they can qualify for the Section 199A deduction.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post