Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 25, 2024 2:11:51 PM

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.  

0 2 353
2 Replies
Expert Alumni
Feb 25, 2024 2:51:51 PM

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?

Level 15
Feb 25, 2024 2:57:13 PM

@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.