This deduction applies to Schedule C filers (sole proprietorships and other self-employed businesses), LLCs, partnerships, S corporations, estates, and trusts. Certain rental enterprises may also qualify. Corporations are not eligible. If you do not have a business reported on your tax return, you probably have REIT dividends reported. Form 1099-DIV with dividends marked in box 5 qualify for the QBI deduction. K-1 entries also generate QBI deductions.
Do I qualify for the qualified business income deduction?