If Turbo Tax says a form 8995 will be available on 1/29/2021, does that mean I do not need to create one?

From what I read the form is automatically created. But it's not available to file and it's 1/29/2021

TurboTax will generate Form 8995 when you report on your tax return any:

• Self employment income 
• Schedule K-1 
• 1099-DIV with income in box 5. 

The form will be available on 02/04/2020. Federal Individual Form Availability

I am unable to file my return as Form 8895 is still not available.  How long will it take?

Thank you!  

Form 8995 (Use Form 8995 to figure your qualified business income deduction) is showing as available.   If you are using the desktop software, please make sure it is updated.    @NickyKyle

Hi Dawn

I have updated my desktop software and yet it still states the Form 8995 is being worked on by the government and when I looked again it states Form 1040: Individual is also waiting for the government.  

Thanks, @DawnC

Please reach out to TurboTax Customer Support as your issue would be best resolved with one-on-one support. Please visit the Contact Us page and select your product to get you to the right person.

@NickyKyle

I opened my Turbo Tax today and there were no updates. It's still not prompting me to complete a Form 8995. Please let me know when I can expect this form to be available. I would really like to file my taxes and it's the last form to complete. Thanks.

Forms availability states that IRS form 8995 is currently available.

I prepared a tax return with self-employment income in TurboTax Online Self-employed.  The software generated IRS Form 8995 Qualified Business Income Deduction.

See also this TurboTax Help.

Mine has not updated nor has it generated Form 8995. It's holding up my filing.

What income should be generating IRS form 8995? The Qualified Business Income Deduction can be generated from one of two components.

• The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate.  The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1. 

• The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publicly traded partnership (PTP) income.  The second component could be reported on 1099-DIV or a K-1.

Perhaps the type of income is not generating IRS form 8995.

See also this IRS Publication.

It ended up being one question that did not generate the QBI. I answered no and the answer was yes. As soon as I answered the question correctly (Worksheets for Schedule C) it populated the 8995. Thanks!

Where is this question "Worksheets for Schedule C"?

I am ready to file but get no amount in line for 8995. How do i get this done?

@schwitter

For further assistance with this experience, please reach out to us directly using the Help Article here.

I wish I had known of 8995 form before I filed.  How can I fix this.

It depends.  

• If you have not filed your return yet, and you only need Form 8995, which is the simplified version, it is ready to go. 
• If you need any part of Form 8995-A, which requires more details, it is scheduled to be available today.  
• If you did file your return and you do not see the qualified business income deduction (QBID) on your return, you can amend your return. 
  • Look at line 13, Form 1040.

Do NOT amend until your original return has been accepted by the IRS and you should allow some time for them to process the return.

• Form 1040-X will be available on February 23rd.

Helpful information is in the links below.

• What is QBID?

@breynolds549