QBI default dividend?

Forum|Forum|6 years ago
February 14, 2020
3 replies
9 views

2019 TT is saying I have $11 in REIT dividends on the QBI Worksheet, but I have no REIT dividends (no K-1 in my tax package). Can't figure out where the $11 is coming from. Attempting to override gives a warning in in SmartCheck.

Best answer by mesquitebean

I'm not a tax expert, just a fellow user, but here's a thought. Do you have any 1099-DIV for a mutual fund or on a broker's 1099-DIV, and does it have an entry in Box 5 (Section 199A Dividends)?

Also, I assume you are using the desktop version. In Forms Mode on the worksheet you referenced, can you right click on the entry and choose "Data source" to see where the figure came from?

NOTE: Overriding can prevent you from efiling, and can void the TurboTax accurate calculations guarantee. You need to figure out where it's coming from, and if incorrect, correct it at the source.

mesquitebeanAnswer

Level 15

Also, I assume you are using the desktop version. In Forms Mode on the worksheet you referenced, can you right click on the entry and choose "Data source" to see where the figure came from?

WindyBovineAuthor

Level 2

Thanks for response. Checked what you said. Still no go (and won't file with an overrirde). Tried:

- Check 1099-DIVs - nothing weird.

- Check Data source - points back to non-existent K-1's (asks to create them).

- Delete QBI worksheet - recreates

- Search for 8859's (non-existent)

- Override resulting $2 deduction - won't transmit

- Override $11 income -- won't transmit.

- Going to try creating $0 K-1's to see what happens

At this point, I guess I'll file and exercise the Intuit Tax calculation guarantee..

WindyBovineAuthor

Level 2

Was wrong -- rechecked 1099-DIV and there was a 199A Box 5. dividend. Thanks to all who replied.

ColeenD3

Level 15

Please see the 1099-DIV pdf. Box 5 has the 199-A dividend.

Anonymous

199A REIT dividends can come from a 1099-DIV box 5 or from a k-1. since the amount is already included in dividends, you can delete the 199A amount and thus file your return.