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Returning Member
posted Apr 8, 2023 8:52:03 PM

TT Not generating form 8995

I have 1099-div with 199A amount (Box5), but TT is still not generating Form 8995. How can I make TT generate 8995 and reduce my tax?

0 4 977
4 Replies
Expert Alumni
Apr 9, 2023 9:49:26 AM

I cannot recreate your issue.It would be helpful to have a TurboTax ".tax2022" file that is experiencing this issue.

 

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

 

In TurboTax Online, go to the black panel on the left side of your program and select Tax Tools. 

  1. Then select Tools below Tax Tools. 
  2. A window will pop up which says Tools Center.  
  3. On this screen, select Share my file with Agent. 
  4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 

In TurboTax CD/Download versions, go to the black panel on the top of your screen and select Online. 

  1. Scroll down to and select Send tax file to Agent. 
  2. You will see a message explaining what the diagnostic copy is.  Click send through this screen and then you will get a Token number. 

Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.   

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

 

@RP151 

Returning Member
Apr 9, 2023 10:13:53 AM

Token number is 1121218

Expert Alumni
Apr 9, 2023 10:56:08 AM

A Trust that is not operating a business is not eligible for the QBI deduction so the Form 8995 will not generate.  While the trust can receive Section 199A Qualified Business Income and distribute that income, it is no longer classified as Section 199A Qualified Business Income when distributed.  


@RP151 

Returning Member
Apr 9, 2023 2:07:52 PM

Thank you for your response.
Trust receiving Section 199A amount and retaining should qualify based on reading following: https://www.irs.gov/newsroom/facts-about-the-qualified-business-income-deduction