JamesG1
Expert Alumni

Get your taxes done using TurboTax

IRS Form 8995 is used to report the Qualified Business Income Deduction.  The QBID can can be generated by Schedule C, Schedule E, Schedule F or a K-1 as a result of a sole proprietorship, partnership, S corporation, trust or estate.

 

The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publically traded partnership (PTP) income.  This would be reported on 1099-DIV or a K-1.

 

If you can identify the source of the QBI, you can delete the form and re-enter or run through the TurboTax questions to make sure that the correct entry has been made.

 

Forms availability shows that the form may not be finalized until January 28.

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