Hello, I am seeking help removing the QBI deduction which I believe is incorrectly being applied due to 1099-Misc income I receive. Details below:
- I am not employed nor do I own a business (i.e., I am retired)
- I receive a 1099-Misc for Pension Income. When entering the 1099-Misc into TurboTax, I specify that it "doesn't involve work like my main job" and "doesn't involve an intent to earn money"
- I have stock investments in REITs which is triggering the QBI deduction; however, I don't think I should be getting the deduction since I do not have self-employment income. It seems the 1099-Misc is triggering TurboTax to apply the QBI deduction even though the 1099-Misc is for pension income.
Do I need to remove the QBI deduction? If so, can someone advise how to do this? Thanks!
- Note: I've asked the Trustee for my pension income to provide a 1099-R instead of a 1099-misc though they've advised it's too late in the year to make the change now and will update this next year.
