Turbotax creating 8995a instead of 8995 for a single member LLC

[sthakur]

I have a single member LLC which in turn owns multiple rental properties. For some reason turbo tax keeps asking me to combine these as consolidates business. Since these do not have separate LLC but all owned by single llc, it should just created a 8995 form for QBI deduction but it ends up creating 8995a. Any way around thius?

[JulieS]

There is an income requirement to use the simpler Form 8995. 

Your 2019 taxable income before your QBI deduction is less than or equal to $160,700 ($160,725 if married filing separately or a married nonresident alien; $321,400 if married filing jointly).

If your income is more than the amounts above, you have no choice but to use Form 8995-A.

In addition if you are filing your LLC on Form 1120-S, you would also be required to use Form 8995-A.

Click here to learn more about Form 8995.

[sthakur]

Thanks for the quick response. The taxable income you referred to, is it business income or overall income from all sources?

[sthakur]

Just add to my question. I am employed but as a side business I have rental properties and have formed single member llc to hold rental properties. My rental income ie business income is under the limit you mentioned but my income including other stock investment and personal income from job does put my agi above those limits. 

[ColeenD3]

In this LINK, you will see all the amounts considered.