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New Member
posted Feb 23, 2025 6:38:30 AM

I am showing a Qualified Business Income Deduction on my 2024 tax return & I don't believe this is correct. How do I see how this was calculated and modify if necessary?

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2 Replies
Expert Alumni
Feb 23, 2025 6:53:20 AM

Qualified Business Income (QBI) may consist of qualified real estate investment trust (REIT) dividends and qualified publicly traded partnership (PTP) income.

 

REIT dividends are reported on form 1099-DIV in box 5. PTP income are reported on Schedule K-1.

 

Please check whether you have these forms on your tax return. In that case, you would have a QBI deduction.

New Member
Feb 23, 2025 9:15:50 AM

It was a result of a REIT dividend.  I have a LLC that didn't generate any income in 2024 and I was thinking it was doing something associated with that incorrectly.  Thanks.