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Help-8995
Returning Member

Form 8995 Qualified Busness Income Deduction

I do not own a business and never have and yet there is a "Qualified REIT dividends" amount that showed up on Line 6 of Form 8995.  At no where in running Turbo Tax did this topic ever come or was a value for this requested or entered by myself.  Also I have not found anywhere in Turbo Tax to delete this value on Line 6 and thus eliminating Form 8995 as part of my 2019 Income Taxes.  Please advise. Thanks.

Help-8995 

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3 Replies
ColeenD3
Expert Alumni

Form 8995 Qualified Busness Income Deduction

If you had a 1099-DIV, Box 5 has Section 199A dividends.

 

From Hackitoff:

 

Certain dividends from Real Estate Investment Trusts (non-qualified)  also included in box 1 total dividends.   if it's small and you don't want to bother with the 199A deduction (20%) that it produces leave box 5 blank.

Help-8995
Returning Member

Form 8995 Qualified Busness Income Deduction

There is an amount in Box 5 (Section 199A Dividends) of $5.24. How does this end up on Line 6 of Form 8995 as $8 (and then eventually $2 down on Line 15)??  (It then goes to line 10 on form1040-SR).

Please explain, and advise what to do next.

Thanks again.

Help-8995

KurtL1
Expert Alumni

Form 8995 Qualified Busness Income Deduction

Line 6 is the total REIT Dividends on all 1099-DIV forms plus if you also have a K-1 from a partnership it includes the income from Publicly Traded Partnership (PTP). 

 

 

Line 15 represents 20% of Line 6.

 

You should review all your Form 1099-DIV forms and review the totals in box 5.

 

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