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Deductions & credits
income from PTP's and certain REIT dividends are a separate category of QBI income (199A) you may see on line 5 of 1099-div a 199A amount. those are REIT dividends that qualify for the QBI.
each PTP stands on its own, if one has QBI income (details reported in box 20 of 1065 - k--1) and another has a QBI loss, they are not netted. you get the QBI deduction for the ones with QBI income provided the QBI section of the K-1 worksheet was done correctly. the QBI losses for those that had them are carryforwards to 2020. hope TT works in 2020 because in 2019 PTP QBI losses from 2018 were not transferred.
‎July 13, 2020
12:02 PM