199A Income. 1099-DIV. Not supported. Yet...

[Love2Fish]

Received a message that 199A income from REITS only on 1099-DIV with qualified income over the threshold will be supported in a "subsequent release" and that my return cannot be filed (yet).  Could one assume that release will come out before April 15, 2020?  The message is a bit vague and there does not appear to be any work around.

[Bsch4477]

Certainly it would be fixed by April 15 and probably within a week or two. 

[Jeff_Cali]

Ditto.  Kind of annoying that I don't have.

[flash tax]

Same here.  Would be nice to have a date for that release Turbotax?

[powbecks]

I just got the same error, and agree the message is unclear whether this means it will be fixed soon in that I can actually file my taxes with TurboTax, or if it means I need to start my return over with a competitor's product. It'd be great if the timing of the "subsequent release" could be clarified by TurboTax. 

 

[VictoriaD75]

Form 8995-A is expected to be available for 2019 returns on February 12, 2020. Please see the links below for forms availability updates and additional information about the deduction.

Forms Availability in TurboTax

Tax Tips for Real Estate Investment Trusts

[flash tax]

I downloaded updates today, but still get same message.  Was this update not included?  Is there a new date?

[VictoriaD75]

Form 8995-A is not yet available. The IRS has listed the forms availability on their website as "to be determined." TurboTax will update as soon as quickly as possible once the form is available from the IRS.

If your REIT dividends are very minimal and you would prefer to file without the deduction, you can delete the amount reported in box 5 of your 1099-DIV form. This will not affect qualified or ordinary taxable dividends in boxes 1a or 1b. However, you will no longer qualify for the QBI deduction.

IRS Forms Availability

[Jeff_Cali]

Thanks for the update.

I considered doing that, but would there be any kind of IRS flag of the difference of inputting on the tax return vs. the 1099 DIV?  Even if it is a deduction?  

[Bsch4477]

No red flag. The IRS will be happy to receive more income.