Form 8995-A Schedule A

Forum|Forum|5 years ago
March 18, 2021
1 reply
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I have consulting income and am within the phase in income. Therefore, I need to file Form 8995-A and Schedule A.

I can not figure out how to get Sch A to generate from Turbo Tax. Is there a question I missed regarding whether or not I am an SSTB?

TurboTax Premier Online

DaveF1006

Level 15

It depends. Schedule A will generate if your itemized deductions are over the standard deduction amount for the year. I am confused though, why do you need Schedule A? Do you need it to get your taxable income below $163,300 (or $326,600 if you're filing jointly)? If it is already there, you don't need a Schedule A. If not, then you need to have enough itemized deductions that exceed your standard deduction to generate a Schedule A in your return. Even with the Standard Deduction, if your taxable income is below $163,300 (or $326,600 if you're filing jointly), there is no need for a Schedule A. You will qualify for the QBI.

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64dancerAuthor

Level 5

I need the Schedule A (Form 8995-A), not the Schedule A (Form 1040). I need it because I have consulting income which is a Specified Service Trade or Business (SSTB). This Schedule actually reduces the amount of deduction I can claim because I am over the limit of $326,600 (but less than $426,600).

64dancerAuthor

Level 5

Here is a link about SSTB in TurboTax. Maybe this will help you report your business as such.

I know with absolute certainty my business is an SSTB. Other software packages ask the question. I just couldn't get Turbo Tax Premiere to ask me the question. After 3 hours on the phone with Turbo Tax last night, we discovered you have to use Turbo Tax Self-Employment in order to get asked the question. Problem solved.