Here are some additional steps to help resolve this issue with your Form 8995A not populating:
- Double-Check Your Answers:
- Go to the "qualified business income" section under Business Summary and review your answers. Use the steps provided earlier for changing your work description for guidance.
- Net Profit:
- Does your business have a net profit for 2024? If not, you don't qualify for Qualified Business Income (QBI).
- SSTB Check:
- Is your new "work description" still considered a Specified Service Trade or Business (SSTB)? Here is a more complete list of SSTB business types.
- Taxable Income:
- If your taxable income is $191,950 or more (or $383,900 if filing jointly), the deduction may be reduced or eliminated.
