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E
etsflowers
March 31, 2025
Question

why do I have a business deduction when I do not have a business

  • March 31, 2025
  • 1 reply
  • 0 views
form states I have a QIB

    1 reply

    J
    JamesG1
    March 31, 2025

    I suspect that the REIT is qualifying you for the 199A deduction. 

     

    REIT dividends generally are reported on a Schedule K-1 or in box 5 of an IRS form 1099-DIV. 

     

    Review the IRS form 8995 or 8995-A to see what income generates the qualified business income deduction.

     

    In TurboTax Online, you may print or view your full tax returns prior to filing after you have paid for the software.

     

    • View the entries down the left side of the screen at Tax Tools.
    • Select Print Center.
    • Select Print, save or preview this year's return.

    In TurboTax Desktop, select FORMS in the upper right hand corner of the screen.

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