According to the qualifying taxpayer flow charts on Turbo tax and the IRS website as of Feb 2022, we do not qualify for a QBI deduction but I can’t get rid of it.
We have an entry in box 5 of our 1099-Div but, according to the notes on the form, that doesn’t mean we are automatically entitled to the deduction. The entry in box 5 is not associated with an REIT fund. We are not a business of any kind, nor is it a trust or estate filing. I am not comfortable taking the deduction even though it is small. My signature signifies that the filing is true and correct.
Your response says “ many times”. That isn’t definitive either. Is there anything more explicit? My faith in TurboTax is waning.
