JamesG1
Expert Alumni

Deductions & credits

The Qualified Business Income Deduction was approved for the 2018 tax season.  We generally think of it in terms of self-employment income but REIT dividends do qualify.

 

Just delete the amount in box 5 and see what difference it makes to your bottom line.

 

See this IRS press release under What is the Qualified  Business Income Deduction?

 

"This deduction, created by the 2017 Tax Cuts and Jobs Act, allows non-corporate taxpayers to deduct up to 20 percent of their QBI, plus 20% of qualified real estate investment trust (REITdividends and qualified publicly traded partnership (PTP) income."

 

 

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