I have been entering numbers into TurboTax from my trust beneficiary Schedule K-1 to do my personal taxes. In the Schedule K-1 step-by-step, “We See You Have Section 199A Income,” I am asked if my Section 199A income (from box 14) includes business income from a business held by the trust or estate. How do I know if I have Section 199A income? The 14-I box on my K-1 is starred (14 I*) and says STMT where an amount might normally appear. The statement that came with the K-1 ls titled “Beneficiary Qualified Business Income Deduction Information” and only lists an amount under REIT Dividends. Is this Section 199A income? Do I need to include this amount in the next window of the step-by-step? I received no Section 199A with my 1041 trust tax return.
So would I enter the amount under REIT Dividends in my “Beneficiary Qualified Business Income Deduction Information” in the next window of the step-by-step? Thank you!