TT Business Doesn't Populate the QIB when 199A Entered on 1099-DIV

Section 199A dividends are reported on Statement A that accompanies Schedule K-1, appearing in a separate box under UBIA of qualified property. Statement A is linked to Schedule K-1 Line 14 Code I (with an asterisk). This treatment allows the beneficiaries to use this deduction on their personal tax returns, if applicable.

 

 

I also had a Section199A on my 1099-DIV, not from a K-1.  Its line 5 of the 2024 1009-DIV.   As long as entering in my 1099-DIV input, will the Form 8995 be generated?

It depends. If you have sufficient taxable income net of capital gains to qualify for a Section 199A (QBI) deduction, Form 8995 will be included on the Form 1041 return. If the total income is not sufficient, no form is prepared.

 

You may wish to review this calculation on the QBI Deduction Summary using Forms Mode.

 

1. Open your return and click the Forms icon in the TurboTax header. 
2. Above the list of Forms in My Return on the left, click on Open Form and type in QBI Ded Summary.
3. Click the form name to open it in the large window. 
4. Review the calculations and note the amount on Line 25 (Total 199A QBI deduction).
5. Look for Form 8995 above the QBI Ded Summary in the forms list. Click this form name to open it in the large window. The calculations from the summary worksheet are shown on Form 8995.

If the Total QBI Deduction is zero, no Sec 199A information will be included with Schedules K-1.

 

@SmedleyJ