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An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

I had entered my Farm Rental under Schedule E
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8 Replies
Kat
Level 15
Level 15

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

See if you can delete Form 8995 from your return by following the instructions I'm linking below.

 

How do I view and delete forms in TurboTax Online? 

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

Thanks Kat.  The problem is that I need Form 8995 for a rental I own.  But somehow a previous entry is showing up, therefore 2 rentals except one is just showing zeros.  I can't find this phantom business anywhere to delete.  If I delete 8995, it just shows back up again when generating the return.

Kat
Level 15
Level 15

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

@brettjns What type of business was the other business that you think is the phantom business?

 

If it was a Schedule C business, you'll need to properly "dispose" of this business.  See the info I'm linking below to delete a Schedule C that transferred over?

 

How do I delete a prior-year Schedule C business that transferred over? 

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

I don't have any Schedule C businesses to delete.

 

The phantom business was probably created as a Farm Rental , either under the Farm section or the Rental/Royalties section.  When I go into the Farm and Farm Rental section, the only business shown is the correct one. The phantom one is not shown, but like I said, it shows up on the Schedule E Form in the generated return.

 

Thanks for helping. Still stuck with this phantom business at this point on my return.  Worried it will raise unnecessary attention.

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

Correction: The phantom business shows on the 8995A worksheet, as originally mentioned, not the Schedule E.  I misspoke. 

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

The phantom business also shows up in the Farm and Farm Rental section under "Should (my farm name) be treated as part of a combined business?"  Hopefully that is a clue, although I suspicion that this is just a reflection of the 8995 form as well. 

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

Found the problem!  The phantom business was hiding out in the wizard for a Farm Rental that generates form 4835.  Man, stuff can get buried in the wizards!  You have to have the right checkbox selected at the beginning of Farm Income and Farm Rental section (the checkbox called "I received agricultural payments on a 1099-MISC or 1099-G for my farm rental").  I had started down that path early on and decided that I needed to enter this Farm Rental as a Schedule E instead, so that business with no data in it was still lurking behind that other path in the wizard!  I hope this helps others track down a phantom Farm Rental business if a similar situation occurs.

Kat
Level 15
Level 15

An extra business is showing up on Form 8995 with all values as 0's. I removed all self-employ content. It seems to be a "phantom" from previous entries. How to remove?

@brettjns Hallelujah!  Hope you can get your filing finished up now!

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

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