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Qualified Business Income Deduction

Filing a joint return using TurboTax online.  Under the Qualified Business Income Deduction Summary, TurboTax is showing a QBI amount of $37 (Total income from PTPs and REITs), with a QBI deduction of $7.  We don't have any business expenses.  Cannot tell where this information is coming from or how to edit it.  Is this a proper deduction, or a possible error with TurboTax?  Thank you.

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3 Replies

Qualified Business Income Deduction

You probably have an amount in box 5 of your 1099-DIV. 

Qualified Business Income Deduction

Yes, that's it.  Had no idea Section 199A dividends were related.  Thank you.

Qualified Business Income Deduction

you get a 20% deduction on line 13 of 1040 for qualified REIT dividends  $7 seems correct.  if you want to avoid any additional fees due to the required form 8995 delete the line 5 amount on the 1099-DIV. 

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