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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You probably have an amount in box 5 of your 1099-DIV.
Yes, that's it. Had no idea Section 199A dividends were related. Thank you.
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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