Solved: Form 8995. The number on line 11 taxable income is not correct. Taxable income is 30261. Turbo tax put 3261

1 Best answer

Expert Alumni

Mar 28, 2020 10:58:47 AM

It depends what was originally entered to determine what is reported as taxable income on line 11 of Form 8995,

It would be best to check your input.

Click on the link to read more about the Qualified Business Income Deduction

For more details, see 2019 Form 8995 Instructions

Expert Alumni

Mar 22, 2020 4:03:26 PM

IRS form 8995 line 11 may differ from line IRS 1040 line 11b Taxable income by the amount of the amount of the qualified business income deduction before the income limitation.

Is that the amount of the difference?

Level 1

Mar 25, 2020 6:22:24 PM

I don’t think so.

Expert Alumni

Mar 28, 2020 10:58:47 AM

It depends what was originally entered to determine what is reported as taxable income on line 11 of Form 8995,

It would be best to check your input.

Click on the link to read more about the Qualified Business Income Deduction

For more details, see 2019 Form 8995 Instructions

Level 1

Mar 30, 2020 5:01:22 AM

Thanks. This explained everything very well.

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Form 8995. The number on line 11 taxable income is not correct. Taxable income is 30261. Turbo tax put 3261