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.

1621

New Member

Mar 28, 2021 10:51:47 AM

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.

Expert Alumni

Mar 28, 2021 2:25:41 PM

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.

New Member

Mar 29, 2021 10:20:50 AM

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**!

Level 3

Apr 16, 2023 12:32:01 PM

5smallhokies's response does not appear to be for certain. See other response above about 1099-DIV line 5 (Section 100A dividends).

Level 3

Apr 16, 2023 12:32:47 PM

I just confirmed DanielV01's reply was the correct answer for me. In terms of updates to TurboTax, it would be nice if the "Data Source" pointed to the 1099-DIV instead of looking for non-existent K-1's.

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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?