Hi, right now turbotax prevents me from continuing and finalizing my returns. I just wanted to confirm as well that the Febuary 20 2020 turbotax software update/release will fix my situation. Will it allow me to proceed with the QBI deduction? Or at least allow me to decline the deduction. The error I am seeing has a bit more detail now:
"Qualified Business Inc Deduction Summary: Total REIT dividends - If the only 199A income is REIT dividends from one or more 1099-DIVs and your taxable income is over the threshold for your filing status ($160, 700 ( $160, 725 if married filing separately) or $321,400 if married filing jointly) then you cannot file your return at this time. This will be supported in a subsequent release."
I believe that my taxable income is over the filing status, and my 1099-DIV had a small amount of 199A income.
There seems to be no option in the turbotax software to decline the deduction (which would be fine for me, as I expect the deduction will be a very very small amount). I am just stuck and cannot proceed to finalize my return. Every time I click "continue" on the QBI Deduction workflow page, it will just keep asking me to finalize it and confirm the numbers. There is no way to proceed to final taxes.
