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Deductions & credits
There is an income requirement to use the simpler Form 8995.
Your 2019 taxable income before your QBI deduction is less than or equal to $160,700 ($160,725 if married filing separately or a married nonresident alien; $321,400 if married filing jointly).
If your income is more than the amounts above, you have no choice but to use Form 8995-A.
In addition if you are filing your LLC on Form 1120-S, you would also be required to use Form 8995-A.
Click here to learn more about Form 8995.
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‎February 19, 2020
12:59 PM