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jalterman
New Member

My form 8995 has an entry for REIT and PTP income, but I don’t believe I have any. Where did the data for that entry come from?

 
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6 Replies
MayaD
Expert Alumni

My form 8995 has an entry for REIT and PTP income, but I don’t believe I have any. Where did the data for that entry come from?

Did you receive a 1099-DIV and schedule K1?

 If you received dividends from a real estate investment trust (REIT) or income from a publicly traded partnership (PTP), that income is also used to calculate your pass-through deduction.

Qualified REIT dividends are reported in Box 5, Section 199A dividends, of your Form 1099‑DIV.

A PTP investor will receive an annual Schedule K-1 

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My form 8995 has an entry for REIT and PTP income, but I don’t believe I have any. Where did the data for that entry come from?

I had a K1 last year but this year I don't.  How can I remove this K1 from this year? I don't see it anywhere.

DawnC
Expert Alumni

My form 8995 has an entry for REIT and PTP income, but I don’t believe I have any. Where did the data for that entry come from?

Delete it from the forms list.  @lepurush 

 

How to delete forms in TurboTax Online

 

How to delete forms in TurboTax Desktop

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My form 8995 has an entry for REIT and PTP income, but I don’t believe I have any. Where did the data for that entry come from?

@DawnC there's no K1 form. Whenever I remove 8895A(1) or QBI they get automatically reinserted

DawnC
Expert Alumni

My form 8995 has an entry for REIT and PTP income, but I don’t believe I have any. Where did the data for that entry come from?

Ok, then the QBI is coming from somewhere else...   Did you enter a 1099-DIV that had an amount in Box 5?    If so, that amount is eligible for the qualified business income deduction.   @lepurush 

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My form 8995 has an entry for REIT and PTP income, but I don’t believe I have any. Where did the data for that entry come from?

Thank you @MayaD  and @DawnC -- I had to manually remove the bogus amount from 1099 DIV box 5. Why on earth would TurboTax put that in!

Shocked at the software -- I was expecting software to be better after all these years

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