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I am not a sole proprietor or partnership. Why am I getting a Qualified Business Income Deduction?

Forum|Forum|7 years ago
June 1, 2019
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I am an employee with some capital gains. I don't have any rental property.

ItsDeductible Online

Best answer by DanielV01

That's where your 199a deduction is coming from. Box 5 on form 1099-DIV reports REIT (Real Estate Investment Trust) distributions. Although REITS are not considered to be QBI, they can qualify for the Section 199A deduction.

DanielV01

Employee

Do you have a 1099-DIV with an amount in Box 5?

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W

WKH3Author

yes!

W

WKH3Author

Thanks for your help!

DanielV01

Employee

You're welcome

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DanielV01Answer

Employee

That's where your 199a deduction is coming from. Box 5 on form 1099-DIV reports REIT (Real Estate Investment Trust) distributions. Although REITS are not considered to be QBI, they can qualify for the Section 199A deduction.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"