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TurboxTax is saying I qualify for $1 QBI deduction. This is false. How do I remove?

 
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2 Replies
DawnC
Expert Alumni

TurboxTax is saying I qualify for $1 QBI deduction. This is false. How do I remove?

It might be correct.   But if it is not, you can delete form 8995 or 8995-A from your return to remove the deduction.   

 

Do you have a 1099-DIV with an amount in Box 5?  Qualified business income (QBI) is the net income or loss from a trade or business.  This includes income generated from partnerships, S -corporations, sole proprietorships, and some trusts.   A Real Estate Investment Trust (REIT) may be a part of a mutual fund you own.  

 

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TurboxTax is saying I qualify for $1 QBI deduction. This is false. How do I remove?

Thanks. It was the REIT from my mutual fund so I left it. First year doing that... 

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