Perhaps the QBID being generated by qualified REIT dividends. The Qualified Business Income Deduction can be generated from one of two components.
- The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate. The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1.
- The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publicly traded partnership (PTP) income. The second component could 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.
Or IRS form 8995 is being generated because your spouse business activity carried forward a Qualified Business Income Loss Carryover from a previous year and is treated as arising from a separate trade or business.
Those losses carry over indefinitely until completely offset by positive QBI.
In TurboTax Online, view Qualified Business Income Loss Carryovers by following these steps.
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Income & expenses.
- Scroll down to Other Business Situations, click Show More to the right.
- Click Start / Revisit to the right of Net Operating Loss / QBI Carryforward Loss.
- Follow the screens to view the Qualified Business Income Loss Carryover.
See also this IRS Publication.
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