JulieS
Expert Alumni

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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