I am trying to delete form 8995 (qualified business income deduction simplified calculation) in tools but it is not working. any suggestions?

[rjs]

Why do you want to delete Form 8995? TurboTax is generating it because you are entitled to the QBI deduction. As long as you have Qualified Business Income, TurboTax is going to keep recreating the form.

The Qualified Business Income might be coming from Section 199A dividends in box 5 of a Form 1099-DIV. If so, after you enter the 1099-DIV the next screen asks whether certain uncommon conditions apply. One of the conditions is that some of the Section 199A dividends do not meet the required holding period. If you check that box, on the next screen you can say that the amount that does meet the holding period is zero. That will remove Form 8995 and the QBI deduction. Doing that will probably increase your tax or reduce your refund.

[yerachmielz]

Thanks Champ for the reply. I am only filing a 1099 for income so would I still need this form? I am trying to delete it because this form is not yet available and so I am not able to file my return

[rjs]

You didn't say what kind of 1099 you have, There are 21 different kinds. There is no plain Form 1099. All 1099 forms have one or more letters after the 1099. The most common are 1099-INT, 1099-DIV, 1099-B, 1099-NEC, 1099-R, and 1099-G. If you have a 1099-NEC, that is treated as business income, so you need Form 8995.

But you can't file your tax return now anyway. The IRS has not yet even announced a date when they will start accepting 2021 tax returns. It probably won't be for a few weeks yet. TurboTax might let you "e-file" your tax return now, but it will not really be filed. TurboTax will just hold it until the IRS begins accepting returns. Nothing will be done with it before then. If you submit it early, be aware that you can't cancel it or get it back to make changes or corrections if you find that you made an error or left something out.

Form 8995 is currently expected to be available in TurboTax January 27, so it won't hold you up very much, if at all.