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Returning Member
posted May 25, 2020 1:22:18 AM

I clicked on 199a.. now i cant get it off my taxes and turbo tax will not help with it at all

turbo tax will not allow me to finish up.. keeps kicking me back to the just a few little things to first...but first is i dont need or want this199a thing

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1 Replies
Employee Tax Expert
May 27, 2020 9:29:12 AM

It is possible you are receiving dividends from a REIT (Real Estate Investment Trust), which qualifies for a Section 199A deduction. This does not mean you had Qualified Business Income (QBI), but you could qualify for the deduction. REIT dividends are reported on a Schedule K-1 or in box 5 of the 1099-DIV. The import from your mutual funds may have reported these transactions. 

 

f you have several QBI Components (from Sched C or E) and are having trouble with the program bringing up unwanted schedules for Form 8995-A, try deleting the QBI Component Worksheet.  The program will generate new Component Worksheets for EACH component.  All schedules related to Form 8995-A will go away.

 

  1. Under Tax Tools, choose Tools
  2. Choose Delete a Form
  3. Scroll through your return until you find QBI Component Worksheet, click Delete to the right of the form
  4. Confirm that you wish to delete the form

Qualified Business Income Deduction

 

What is the QBI Deduction?