JamesG1
Expert Alumni

Business & farm

I suspect that the Qualified Business Income Deduction (QBID) and IRS form 8995 is generated by the entry of some form of self-employment income and cannot be overridden. 

 

When you delete the form, the form 8995 goes away and then is immediately re-generated because the self-employment income is still reported in the tax software.

 

Only by excluding the income, can the Qualified Business Income Deduction be removed.

 

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. 

See also this TurboTax Help.

 

 

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