3540484
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Qualified business income deduction is showing zero on form 8995.

Even though I have a business income deduction for my rental property, the 8995 form shows zero. It shows the correct number for my other property. Both properties showed an income deduction last year. It seems wrong that one of them is zero this year.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
AmyC
Expert Alumni

Qualified business income deduction is showing zero on form 8995.

Let's go through each part to ensure your proper credit.

  1. You must have positive income after all of your deductions. Verify that your sch E shows a profit on the house.
  2. You must spend at least 250 hours per year on the rental service. If you have  been doing this longer than 4 years, it must meet 3 out of 5 years rule. Verify that you selected you qualify for the QBI deduction.

 

Reminder: Contemporaneous records of services performed are kept which includes who performed the service, description of service, the date of the service, and how long it took (who, what, when, and how long for the 250+ hours of service. from Can I get the QBI deduction on rental income?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Qualified business income deduction is showing zero on form 8995.

I checked the wrong box for if I was active in my real estate rental business.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question