topic I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A in Deductions & credits

I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

bill334 — Fri, 07 Feb 2020 15:37:25 GMT

I received a K-1 that shows Section 199A dividends.

I entered them in the K-1 interview.

Why are they not transferring to the form 8995A?

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

Anonymous_ — Fri, 07 Feb 2020 16:29:24 GMT

Form 8995-A is scheduled to be available on 2/20/2020.

See https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

bill334 — Thu, 20 Feb 2020 16:35:56 GMT

The Form 8995A was updated today but this problem is still not fixed.

Section 199A Dividends from From 1099 are being handled correctly.

Section 199A Dividends from the K-1 from 1120S are NOT being transferred to the Form 8995A.

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

Anonymous_ — Thu, 20 Feb 2020 16:43:43 GMT

@bill334 wrote:
Section 199A Dividends from the K-1 from 1120S are NOT being transferred to the Form 8995A.

Are they being transferred to Form 8995 (see below)?

Individuals and eligible estates and trusts that have QBI use Form 8995 to figure the QBI deduction if:

You have QBI, qualified REIT dividends, or qualified PTP income or loss (all defined later),
Your 2019 taxable income before your QBI deduction is less than or equal to $160,700 ($160,725 if married filing separately or a married nonresident alien; $321,400 if married filing jointly), and
You aren’t a patron in a specified agricultural or horticultural cooperative.

Otherwise, use Form 8995-A, Qualified Business Income Deduction, to figure your QBI deduction.

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

bill334 — Thu, 20 Feb 2020 17:48:02 GMT

My tax return shows Form 8995A. I need to use Form 8995A, not Form 8995.

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

bill334 — Fri, 21 Feb 2020 19:58:59 GMT

When will this error be fixed?

I entered the Section 199A Dividends in the K-1 Interview but they are not transferring to the Form 8995A

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

smhtax — Mon, 24 Feb 2020 19:22:37 GMT

On February 24, REIT dividends from K-1 line 14 code I are still not transferring to the QBI form 8995-A

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

DavidS127 — Mon, 02 Mar 2020 16:43:30 GMT

The issue with REIT 199A dividends reported on a trust Form 1041 Schedule K-1 is being worked on. I will update you when the issue has been resolved.

[Edited 03/02/2020|8:42am PST]

@smhtax

@bill334

@Anonymous_

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

bill334 — Mon, 02 Mar 2020 19:02:00 GMT

Will the issue with REIT 199A dividends reported on a Form 1120S Schedule K-1 be fixed?

Re: I received a K-1 with Section 199A Dividends but they are not transferring to the Form 8995A

DavidS127 — Fri, 13 Mar 2020 17:52:22 GMT

I believe updates to TurboTax since 3/10/2020 will resolve your issue with REIT/Section 199A dividends reported to you on your trust Form 1041 K-1.

TurboTax Online will be updated when you sign in. If you are using TurboTax Download/CD, check for updates (menu at top, Online>>Check for Updates).

@smhtax

@bill334