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Do I get a qualified business income deduction even though I am retired?
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Do I get a qualified business income deduction even though I am retired?
Maybe. You may not have a business, but if you are receiving any dividends from a REIT (Real Estate Investment Trust), you could be receiving a Section 199A deduction. While income from a REIT is not QBI in and of itself, it does qualify for the Section 199A deduction. REIT dividends are reported either on a Schedule K-1 or on a Form 1099-DIV in box 5. If you had this, you do qualify for the Section 199A deduction.
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Do I get a qualified business income deduction even though I am retired?
Maybe. You may not have a business, but if you are receiving any dividends from a REIT (Real Estate Investment Trust), you could be receiving a Section 199A deduction. While income from a REIT is not QBI in and of itself, it does qualify for the Section 199A deduction. REIT dividends are reported either on a Schedule K-1 or on a Form 1099-DIV in box 5. If you had this, you do qualify for the Section 199A deduction.
**Mark the post that answers your question by clicking on "Mark as Best Answer"