I am not sure whether you are referring to preparing your 2020 Federal 1040 tax return or some other kind of tax return. Please clarify.
It is possible that the Qualified Business Income Deduction is generated from income items that are investment income.
The Qualified Business Income Deduction can be generated from one of two components.
- The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate. The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1.
- The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publicly traded partnership (PTP) income. The second component could be reported on 1099-DIV or a K-1.
Is the Qualified Business Income Deduction what you are referring to? Does your tax return include one of the income components listed above?
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