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I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?
I am an employee with some capital gains. I don't have any rental property.
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June 1, 2019
8:23 AM
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Business & farm
Do you have a 1099-DIV with an amount in Box 5?
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June 1, 2019
8:23 AM
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Business & farm
You're welcome
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June 1, 2019
8:23 AM
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Business & farm
That's where your 199a deduction is coming from. Box 5 on form 1099-DIV reports REIT (Real Estate Investment Trust) distributions. Although REITS are not considered to be QBI, they can qualify for the Section 199A deduction.
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June 1, 2019
8:23 AM