How to remove qualified business income deduction. Turbo Tax Deluxe added this worksheet on its own. I don't qualify for it and i can't get it to delete or edit it out.

One previous T-Tax Community answer is "one possibility is if you received a 1099 DIV with an amount in Box 5 as the dividends from a REIT can be included in the calculation." I do have that, but don't understand it. Does that "investment dividend" account qualify me for is deduction even though I don't have a business otherwise?

2216

Not applicable

Jun 1, 2019 12:10:51 PM

for 1099-div, TT only computes QBI on amounts in box 5. if there is nothing there then you may have other sources of income that qualify for QBI. - rental income, schedule C, certain K-1 income, farm income

if you think you have none of these, carefully check your return because it is likely you entered something in the wrong spot.

Level 2

Apr 19, 2020 10:37:42 AM

OMG, thank you,

I also couldn't figure why I had QBI as an individual, but found I had included from brokerage firm line 5. Called 199A dividends. It was driving me crazy trying to access it again.

New Member

Feb 12, 2021 6:09:55 AM

I finished using TurboTax, printed out the tax forms, and discovered Form 8995 had been filled in. Checking on what the form covers, I discovered it is "calculated by netting the total amount of qualified income, gain, deduction and loss from any qualified trade or business. I'm retired, am not involved in any type of trade, and I don't own a business. I've read what someone said, "received a 1099 DIV with an amount in Box 5", but we haven't

I've tried deleting the information, but cannot. Can anyone explain/help me figure out how to get rid of the form embedded in our TurboTax?

Any help would be appreciated.

New Member

Feb 12, 2021 6:18:01 AM

I just noticed someone wrote about ,"you may have other sources of income that qualify for QBI. - rental income, schedule C." Last year when we filled in TurboTax this form never came up.

We do have a house that is being rented. Does that alone automatically cause information to be produced on the 8995 form?

Expert Alumni

Feb 12, 2021 6:34:47 AM

The form 8995 is used to figure your qualified business income (QBI) deduction. This form can be triggered by the following:

Business income (1099 income);
An amount in box 5 of a form 1099-DIV; or
Form K1 from a Public Traded Partnership.

It is also possible to receive the QBI on rental property. Please see the following TurboTax Help article: Can I get the QBI deduction on rental income?

@mrochem

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How to remove qualified business income deduction. Turbo Tax Deluxe added this worksheet on its own. I don't qualify for it and i can't get it to delete or edit it out.