1216390
Under Deductions and Credits there is a credit for a QBI deduction. Where did this come from? On the screen it says, the Qualified Business Income (QBI) is based on the industry you work in and how much money you made. I am a project manager in the life insurance industry so this makes no sense to me. The amounts (QBI amount, and QBI deduction) were already filled in when I got to this screen. It also says this is the total income from PTPs and REITs. Both my wife and I own a real estate index fund. Is this where the deduction is coming from?
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Dis you file a Schedule C? Also, you may have received a 1099 DIV statement with an amount in box 5. If that's the case, then that's the reason you are having the 199A QBI decuction.
look on you 1099-divs specifically is there an amount in box 5 199A divdends, this is dividends eligible for the QBI deduction. there are many other sources for the QBI deduction - it is not a credit.
Thank you HACKITOFF. I was able to find this amount on the 1099-divs as you mentioned in box 5 199A.
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