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Returning Member
posted Apr 22, 2020 12:03:06 PM

clarification for 8995 form- QBI

I have created two schedules C as i am self-employed which made my work a littibe confusing- and did one schedule SE for both- the total deduction for self-employment is $ 44

so when it comes to filling the form 8995 I got confused in the first part when I should write every business name in A  and the in column C the qualified business- what should I do exactly? should I minus every net profit of each business of the total tax deduction amount $44 ?

   

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Expert Alumni
Apr 22, 2020 2:48:48 PM

Follow the TurboTax interview questions for each of your Schedule C businesses, and TurboTax will complete the Form 8995 with the correct amounts.

 

Generally, your Qualified Business Income (QBI) deduction is 20% of your Schedule C business income minus your self-employed health insurance deduction and one-half of your SE tax.