topic Am I really allowed to claim a Qualified Business Income Deduction for REIT Dividends? in Get your taxes done using TurboTax

Am I really allowed to claim a Qualified Business Income Deduction for REIT Dividends?

crash345u — Sun, 02 Feb 2020 13:24:48 GMT

Turbotax took 1099-DIV Box 5 amounts which were NOT related to my Schedule C business income and included them under Qualified REIT Dividends on Form 8995 Line 6. Am I really alowed to take this Section 199A deduction on Form 8995 which is for Qualified Business Income Deductions even though it had nothing to do with my Schedule C income?

Re: Am I really allowed to claim a Qualified Business Income Deduction for REIT Dividends?

DavidS127 — Sun, 02 Feb 2020 14:45:17 GMT

Yes, qualified real estate investment trust (REIT) dividends are eligible for the qualified business income (QBI) deduction. See this IRS link for information about what qualifies for the QBI deduction.

Re: Am I really allowed to claim a Qualified Business Income Deduction for REIT Dividends?

crash345u — Sun, 02 Feb 2020 14:49:09 GMT

Thanks, I wanted to make sure I was still eligible for the REIT Dividend deduction even though the income came from the Personal side of my tax return.