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We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

Line 9 shows a Qualified Business Income Deduction of $250, yet we have no business, nor any REIT dividends.  Turbo Tax shows we have $1,250 of REIT dividends!  Where does this come from?  Can we just delete the $250 deduction that this generated on Line 9 of our 1040?

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We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

solved in comments

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

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6 Replies
KrisD
Intuit Alumni

We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

You have no 1099-DIV or K-1?

We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

Some dividends are 199A dividends and will yield a QBI deduction.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

Yes, we did find the 199A dividends on the 1099-DIV.  Thanks for your help!
KrisD
Intuit Alumni

We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

Thank you for using TurboTax.

We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

solved in comments

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
EHetz
New Member

We do not have any REIT dividends, yet Turbo Tax is showing $1250, and gives us a $250 Qualified Business Income Deduction!! Can we just delete this from our return?

I also have unexplained values here. I have an REIT entry from a K-1, but it's only $38.  Line 9 of the QBI Ded Summary shows $293, and when I ask "Data Source" it shows me only the $38 I know about. Any ideas where else to look for these ninja values?

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