If you are eligible for QBI and may use the carryforward in a future year, you should include Form 8995A with your tax return each year. All pages for the form must be included if the form itself is a part of your return.
Again, QBI is an optional deduction. Form 8995A is used if our 2024 taxable income before your QBI deduction is more than $383,900 married filing jointly, and $191,950 for all other returns. You have the option to claim the deduction and report carryforwards or decline the deduction and omit the form.
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