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Tom D2
New Member

Turbo tax has entered a REIT dividend amount that has no basis. I've overridden with zero, but Turbo tax won't let me submit the return. Is there an alternative?

The form is the Qualified Business Income Deduction Summary, lines 9 and 14.  I have no documentation to substantiate Turbo Tax's number.  
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2 Replies
JulieS
Employee Tax Expert

Turbo tax has entered a REIT dividend amount that has no basis. I've overridden with zero, but Turbo tax won't let me submit the return. Is there an alternative?

Yes, line 9 of the Qualified Business Income Summary comes from Schedule K-1. Line 14 comes from the Carryover worksheet for QBI.

 

If you just override these amounts you won't be able to e-file your tax return. 

 

Do you have a Schedule K-1? If so, is it from a 1120-S, 1065, or 1041?

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TomD8
Level 15

Turbo tax has entered a REIT dividend amount that has no basis. I've overridden with zero, but Turbo tax won't let me submit the return. Is there an alternative?

@Tom D2 --

 

Did you receive a 1099-DIV with Section 199A dividends in Box 5?  A Section 199A dividend qualifies for the Section 199A qualified business income deduction.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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