Why is form 8995 being printed in 2023 return and with numbers? Doing return for Father In Law for first time?He basically has 14K income via IRA/Annuity and 30K Social Security? Form is printing with some entries as last form in Federal Return? Not sure where it is getting numbers or why?
He probably has a QBI carryover from a prior tax year so the form is being populated. It probably has not any affect on the return so just ignore it.
Is there anything on Line 13 (QBI deduction) of Form 1040? As mentioned above, it could be carried over from a previous year, or does he have any 1099-DIV forms with amounts in Box 5? That box represent dividends that qualify for the QBI deduction.
Why am I getting a Qualified Business Income Deduction? Other possible reasons you are seeing the 8995 form.
Thanks folks for weighing in much appreciated. This was the first time I used TurboTax for him so no carryover from previous returns was possible. He did however have $30 in Box 5 one his Dividend statement. I suspect this was the issue and it applies percentages to the dividends to see if he qualifies for a credit? Does not apply anything or seem to affect his return so I assume working as designed and simply include with the following.