Determining Qualified Dividends

[Trooper]

REITs are present in the S&P500 index as well as broader market indexes.
https://www.reit.com/data-research/reit-indexes/reits-sp-indexes

I did not know that..thanks Audrey!

 

[Trooper]

In last years 1040 20% of our 199A dividends were added to the standard deduction which is then subtracted from AGI before computing taxes. Nice!

So...a 199A dividend is a deduction whether one itemizes or not? I'll have to look at how my H&R Block software handles this.

 

[pb4uski]

Yes.

 

[Trooper]

I plugged the 199A amounts into TurboTax. Didn't seem to change anything.

Same with my H&R Block software until....I downloaded the latest update and voila! Taxable income reduced by 20% of the Section 199A amount.