The Qualified Business Income Deduction (QBID) will be generated by the entry of the REIT 1099-DIV income and cannot be overridden. However, if you exclude the income, the Qualified Business Income Deduction will be removed.
The Qualified Business Income Deduction can be generated from one of two components.
- The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate. The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1.
- The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publicly traded partnership (PTP) income. The second component could be reported on 1099-DIV or a K-1.
See this TurboTax Help.
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