turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

1099-Div 199A REIT QBI Question

I want to take advantage of the REIT 20% QBI.  I am well under the income limits.  

 

However I see that for 2018, TT gave me a $0 QBI deduction.  TT entered my "Income Before QBI Deduction" from line 10 form 1040 - OK.  Then it entered a larger amount for the "Net Capital Gains" for the next line of the QBI Deduction Summary Form.  I can't understand where TT got that number.  It is larger than line 10, 1040 so it generated the $0 Credit.    There is no click through on that line and so I can't see where TT is pulling it from and it's MUCH larger than my actual Net Capital Gains.  

 

Where does TT pull Net Capital Gains from in order to calculate the QBI?  Or why it is so much larger than my actual Net Capital Gains (Schedule D/Line 13 Schedule 1)?

 

Can anyone shed light on what TT did in 2018?    Thanks!

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

1099-Div 199A REIT QBI Question

Looking at this further.  Not that I know the answer.  But it seems to me that Net Capital Gains should be the same as line 22 on Schedule D and it isn't.  It is a LOT higher, not quite double, but not that far off.  

 

I am increasing feeling that this is TT error.  Anyone else see this?

 

Of course the worksheet is not visible and if you weren't looking for it you wouldn't see it.  

MaryK4
Expert Alumni

1099-Div 199A REIT QBI Question

The Net Capital Gain used is the Qualified Dividends plus (Long Term Cap Gain divided by Short Term Cap Gain) 

@rennman

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question