If you have an amount on a 1099 DIV in box 5, that amount is eligible for the Qualified Business Income deduction. See more information below:
Per the IRS recently
released Notice
2019-07, the following is a definition of the income included in the QBI
deduction calculation:
Congress
enacted section 199A (the Qualified Business Income Deduction) to provide a
deduction to non-corporate taxpayers of up to 20 percent of the taxpayer’s
qualified business income from each of the taxpayer’s qualified trades or
businesses, including those operated through a partnership, S corporation, or
sole proprietorship, as well as a deduction of up to 20 percent of aggregate
real estate investment trust (REIT) dividends and qualified publicly traded
partnership income.
