Problem with Trust K1 that includes Section 199A Dividends from REIT ETFs

That would be for the 199A deduction and you would enter the name of the PTP and EIN or, alternatively, you could enter the name of the trust (or estate) and the EIN.

Thanks for the reply. There is no PTP/EIN associated with the REIT holdings in the trust (that's what was so confusing about what TurboTax was asking for). I tried entering the trust name and EIN. It then took me to a screen where it asked for details on the REIT dividends. I entered that information, and it now shows tentative & net REIT dividends in the K1 worksheet, but this information isn't being properly passed along to the Form 8995. The Form 8995 lists the trust name & EIN with qualified business income=0, and the Qualified REIT dividends in the Form 8995 only shows income from another 1099-DIV.  Any suggestions on how to get it to recognize the trust's REIT dividends? I'd like to use the full QBI deduction I'm allowed.

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@ColetteBurrus wrote:

Any suggestions on how to get it to recognize the trust's REIT dividends? I'd like to use the full QBI deduction I'm allowed.

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Not really other than contacting Support (link below). I have not been successful with test returns either so there could possibly be a coding (related to linking forms) issue. 

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

Thanks for your help on this. I spoke with TurboTax support. They are aware of the problem and are working on a fix.

Having same problem, please post updates as available.

Me as well. Doing my widowed mom's taxes, which includes my father's trust.  Was hoping to file this month, but I suppose "wait" is the answer now.

1. Having the same problem with a K-1 1041 Trust Beneficiary form.  If I override and add the non-propagated REIT dividends to form 8995-A, I get a message in Federal Review that I might not be able to e-file.  I was on the phone for an hour with a TT CPA yesterday who was unaware of the issue and was unable to suggest a course of action.  They are supposedly looking at the issue.  Apparently, last year there was a code IC (ic) that could be selected in the drop down list which fixed the issue.  This year there is no such code and code I puts you into the QBI/PTP wasteland when my situation is definitely NOT a business.

That's funny (not) that the TT CPA wasn't aware of the problem, as the OP stated above that TT was aware and working on it over a week ago!

Still no help from TT? What do we do..........just skip it? This is ridiculous. Come on TT, give us something!!

I was told that they would email me when a fix is available. I will let you know when I hear anything.

Thank you!

I am having the same issue! This is the first year I've gotten a K-1 so I thought I just didn't know how to enter it. Hope to see the fix soon!

I can confirm that the issue with REIT 199A dividends reported on a trust Form 1041 K-1 is being worked on.  I will update you when the issue has been resolved.

Thank you!

I am having the same problem. I have the dividends and no answers for the business. I entered the K1 line 14 with the dividend amount and am having to answer all sorts of questions that don't apply. Help

I am also having this issue; Sch 14 (Form 1041) Line 14, Code I* STM; entered that data into the proper place in TT

next 2 questions did not apply, then got this

Contacted the Accountant that handles the Trust & she assures me that "This is not from a business. It is from 199A qualified dividends from the broker. Per line 5 of 1099-Div. You should not have to enter a business name or EIN. 

All I can tell you is that that the QBI dividends need to end up on Form 8995 line 6. The best I can advise you is to play around with the inputs until you get the result on the form."

I've tried manipulating the Forms, including using a fictitious name & EIN number, and it still will not populate Form 8995 Line 6.

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@eneranch wrote:

I've tried manipulating the Forms, including using a fictitious name & EIN number, and it still will not populate Form 8995 Line 6.

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I believe you will have to wait for TurboTax to correct the issue. Otherwise, the manipulation can be accomplished by adding a Form 1099-DIV and inputting the name of the trust and the 199A figure on Line 5 (although I would not recommend doing so at this point).

I had a 2+ hour session with TT yesterday, they are aware of the problem & several deficiencies within the Software (Desktop).

I was told a fix was expected today (3/6/2020), but the Update this morning didn't correct the problem.

I was also told I would be placed on an Email Notification List and should receive something once they have corrected the problems.

I had a program update this morning and it has not fixed the problem. 

I also tried to read the release notes and run into the same problem of the website being moved. Sad. 

Is there an estimated timeline on when the issue will be resolved?  Can we receive an email when it is fixed?  Thanks!

I am experiencing a problem identical to that reported here previously.  I have a trust reporting 199A dividends from a brokerage statement.  This shows up on my K-1 package as Section 199A Dividends on Statement A-QBI Pass-through Entity Reporting.  I cannot get my downloaded version of Turbotax to recognize this entry properly.  Form 8995 shows $0.

I just went through the trouble of trying to talk to a live TT person. 

She said for the business name and EID to use the trust name and the trust EID. She was getting that information from one of her experts. I questioned it because of the earlier posts, but I tried it. When I entered them, then I got a new screen with had REIT dividends as an option. I don't think I got that before, although I may never had tired since it doesn't make sense. But I'm going with it. 

Yes, we tried all of that, not to mention overriding inputs into the QBI Deduction Summary so the numbers in the Form 8995 Line 6 would Match what the K-1 said & in the end I was informed that it "may" work but I would have to file a Paper Copy because the Override created a permanent Error and voided the chance to E-file. I do not wish to file something with the IRS that "may" work, I will wait until TT has fixed their defective Software.

If you choose to go forward, I wish you well.

Check Line 6 on the 8895..........that's where it should show up, but it doesn't.