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Deductions & credits
I am also retired with no operating business. A 1099-DIV I received reflected a Section 199A dividend and Turbotax Premier automatically generated a 20% deduction on the amount. With no operating business, I too am skeptical as to eligibility to receive this deduction. Did you get an answer to that part of your original question - ie. eligibility if not operating a business, only holding investments (e.g. mutual funds) that generate 199A dividends reported in box 5?
If you have no business but merely are owner of a mutual fund that generates these qualifying dividends, can you take the deduction?
March 1, 2020
1:16 PM