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harshpatel747
Returning Member

Turbotax is showing Qualified Business Income Deduction but I don't own any business.

I  sold Stocks and I think it might be miscalculating. On Robinhood 1099 it shows under

Section 199A dividends that's the same amount TurboTax is counting. What should I do? I don't think I can leave the deduction the way it is, $11. 

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3 Replies
ColeenD3
Expert Alumni

Turbotax is showing Qualified Business Income Deduction but I don't own any business.

Yes, it is sometimes due to dividends and REITs. You can leave it.

harshpatel747
Returning Member

Turbotax is showing Qualified Business Income Deduction but I don't own any business.

But is it legal or a Turbotax error? There is no option to delete it.

JamesG1
Expert Alumni

Turbotax is showing Qualified Business Income Deduction but I don't own any business.

The Qualified Business Income Deduction can be generated from one of two components. 

  • The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate.  The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1. 
  • The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publicly traded partnership (PTP) income.  The second component could be reported on 1099-DIV or a K-1. 

The section 199A dividends are generating the QBID.

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