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Get your taxes done using TurboTax
It is not a Turbo Tax error. I confirmed that a friend also has this on his return and we both trade stocks. On the Form 8995 instructions section "Determining your Qualified Trades or Businesses - it states ;
"As provided in section 162, an activity qualifies as a trade or business if your primary purpose for engaging in the activity is for income or profit and you’re involved in the activity with continuity and regularity."
So the form is apparently required if you trade certain stocks and engage in profit from trading.
** Look at your 1099 input into your Turbo Tax program. Under my 2024 form 1099 Div section 5 reported $1.01 (one dollar and one cent) as 1099A Dividends - thereby triggering the Form 8995.
March 15, 2025
10:09 AM