Form 8995 - Qualified Business Income Deduction Simplified Computation is used to figure your qualified business income (QBI) deduction. Individual taxpayers and some trusts and estates may be entitled to a deduction of up to 20% of their net QBI from a trade or business.
The form 8995 is used to figure your qualified business income (QBI) deduction. If you have a
- business income (1099s);
- an amount in box 5 of a form 1099-DIV; or
- Form K1 from a Public Traded Partnership.
If none of these situations apply, you can delete the form, using these steps:
TurboTax Online
- While in your return, click on Tax Tools > Tools (in the black bar at the side of your screen).
- In the Tools Center, under Other helpful links click on Delete a form.
- Click Delete next to the form you want to delete and follow the onscreen instructions.
- Once you have finished deleting the desired form(s) click the Continue with My Return box (in the lower right of your screen).
TurboTax CD/Download
- Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar.
- In the Forms in My Return list on the left, click on the form you wish to open and delete.
- Click on the Delete Form box at the bottom of the screen.
- To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.
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