REIT DEDUCTION 2018
I understand there is a new deduction for pass through business, investors will now be able to deduct 20% of dividend income received from REITS, even if you do not itemize deductions effectively lowers tax rate investors pay on REIT income. Please advise if you know anything about this deduction.
Permalink Submitted by Alan - IRA critic on Mon, 2018-02-12 18:17
Yes, that is true but the actual mechanics when filing taxes have not been published yet, and probably will not be for awhile. Either there will have to be a place on the dividend line on Form 1040 to subtract the 20% or it might be incorporated into the 1099 DIV form.