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Get your taxes done using TurboTax
It's likely then that you may have filled out the wrong kind of 1099.
A 1099-DIV will not trigger the qualified business deduction.
It's a bit confusing, but almost any non-wage income from a business triggers some kind of 1099, and depending on the kind of income it needs to go different places in the return. 1099-INT for interest and 1099-DIV for dividends go to schedule B, while 1099-B for capital gains goes to Schedule D and 1099-G is for certain government payments and 1099-R is for pensions and IRA withdrawals. 1099-misc is a category, but now 1099-NEC is specifically for non-employee earned compensation.
‎April 7, 2023
7:53 PM