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Why is form 8995 on my completed taxes if I don’t own a business?

 
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3 Replies
ThomasM125
Expert Alumni

Why is form 8995 on my completed taxes if I don’t own a business?

You may have income reported on a Schedule K-1 from ownership in a partnership or S corporation that would be Qualified Business Income (QBI), either in the current year or a carryover from a previous year. You may be entitled to a (QBI) deduction for that.

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Why is form 8995 on my completed taxes if I don’t own a business?

Thanks for your reply. I have never been a business owner or partial business owner. Could it be because of a 1099-INT or DIV? It’s the only thing that makes sense to me. I have some stock with Starbucks- where I used to be employed as a barista. It’s the only thing I can think of. All of that is through Fidelity 

ThomasM125
Expert Alumni

Why is form 8995 on my completed taxes if I don’t own a business?

You could have QBI from real estate investment trust (REIT) dividends. They would be reported on Form 1099-DIV.

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