Why did I complete Form 8995

[claireoglesby90]

What is form 8995

[ThomasM125]

You must have reported business income on your current year or former year federal tax return.

Form 8995 is used to calculate and report your Qualified Business Income deduction (QBI deduction). It is a deduction you may qualify for if you report business income on your return. It often comes from a schedule K-1 entry associated with a publicly traded partnership, real estate investment trust, S corporation or also from a Schedule C reporting self-employment income on your return.  You may have QBI carry-over losses from previous years on your current year tax return, so even if you didn't report any business income in the current year, you may still have Form 8995 on your tax return.