Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 9, 2025 7:22:08 PM

Not self-employed, nor do I own a business but am getting forms 8995 and QBI Deduction. Deleted both forms, but QBI ded still showing up. How can I get this cleaned up?

0 2 455
2 Replies
Expert Alumni
Mar 9, 2025 7:29:36 PM

You may not need to delete it.   Do you have a 1099-DIV with amounts in Box 5?   That income is qualified business income (QBI).  

 

Generally, you may be allowed a deduction of up to 20% of your apportioned net qualified business income (QBI) plus 20% of your apportioned qualified REIT dividends, also known as section 199A dividends, and qualified publicly traded partnership (PTP) income from the trust or estate.

 

Other reasons you may be getting a QBI Deduction

 

For the purposes of the deduction, QBI is defined as net business income, excluding:

 

  • Income generated outside the United States
  • Investment income
  • W-2 compensation paid to an S corporation owner
  • Guaranteed payments to a partner
  • Income from REITs, publicly traded partnerships, and qualified cooperatives (these entities may qualify for a 20% deduction under a different set of rules, the explanation of which is beyond the scope of this article)

New Member
Mar 12, 2025 7:30:26 AM

Thank you!