Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
bykerrn-gmail-co
New Member

RE: Frm 8895 Turbo Tax program states I have income from an REIT when I have not received or entered any Data from a Sched-K. Its reported on QBI wrksh line 9 Why?

2020 Qualified Business Income deduction summary worksheet Line 9: Total REIT Dividends which transfers over to form 8895 Line 6 "Qualified REIT Dividends" and "PTP income and (loss). Data source states three different Sched K-1 's. I have no income from any K-1's and did not and will not receive any K-1's. The program did the same last year 2019 but I did not notice it.
3 Replies
5smallhokies
New Member

RE: Frm 8895 Turbo Tax program states I have income from an REIT when I have not received or entered any Data from a Sched-K. Its reported on QBI wrksh line 9 Why?

I am seeing the same thing in the Windows desktop version of TT Premier.  The Data Source shows coming from the K-1 as 0 but shows 18 on the Summary below.  Not a REIT or PTP so it is obviously not transferring correctly.  TurboTax needs to fix this bug.  I'm going to override it to the get it right for me.Screenshot 2021-03-28 134720.png

DanielV01
Expert Alumni

RE: Frm 8895 Turbo Tax program states I have income from an REIT when I have not received or entered any Data from a Sched-K. Its reported on QBI wrksh line 9 Why?

It's likely not a bug.  If you have a Form 1099-DIV with a box 5 entry, that is where it is coming from.  That box reports REIT dividends.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
bykerrn-gmail-co
New Member

RE: Frm 8895 Turbo Tax program states I have income from an REIT when I have not received or entered any Data from a Sched-K. Its reported on QBI wrksh line 9 Why?

  • Thanks ,Daniel.
  • Before your reply I went and scrutinized my 1099 Divs and found the $92 in box 5.
  • It happened last year also but I did not get **bleep** over it .
  • Had time this year to be **bleep**!
Dynamic AdsDynamic Ads
Privacy Settings
v