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

[latashak84]

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

[MayaD]

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

[NickyKyle]

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

Thank you!  

[DawnC]

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

[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

[MichelleLO]

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

[MEND47]

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.

[JamesG1]

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.

[MEND47]

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

[JamesG1]

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.

[MEND47]

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!

[skywire]

Where is this question "Worksheets for Schedule C"?

[schwitter]

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

[HeatherPLO]

@schwitter

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