turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Fuz
Level 2

Why does Turbotax think I have a Qualified Business Income Deduction for a non-existent REIT?

I am using Turbotax Premier 2019. All of my income comes from W-2s, 1099-R, 1099-Int, 1099-DIV, or 1099-B (mutual fund sales). I do not own - nor have I ever owned - a small business of any kind. I did not enter any business income. I do not own any real estate and I am not part of any REIT. While reviewing my completed tax form, I noticed Turbotax shows a completed From 8995 with REIT dividends of $27 and a resulting QBI deduction of $5.

 

I know this is a trivial amount, but can anyone explain where this came from? I tried deleting the Form 8995 and that does not work - it keeps coming back, and does not correct the Form 1040. Thanks for your help.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Why does Turbotax think I have a Qualified Business Income Deduction for a non-existent REIT?

 I noticed Turbotax shows a completed From 8995 with REIT dividends of $27 and a resulting QBI deduction of $5.

 

Look at box box 5 of the 1099-DIV. 

View solution in original post

2 Replies

Why does Turbotax think I have a Qualified Business Income Deduction for a non-existent REIT?

 I noticed Turbotax shows a completed From 8995 with REIT dividends of $27 and a resulting QBI deduction of $5.

 

Look at box box 5 of the 1099-DIV. 

Fuz
Level 2

Why does Turbotax think I have a Qualified Business Income Deduction for a non-existent REIT?

That's it! Thank you. I did not know what a "Section 199"dividend was.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies