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My tax return on Turbo Tax is saying I need to file form 8995, but I don't own a business. I'm an independent contractor with Instacart.

I don't remember being required to file this form last year, and nothing with my tax situation has changed.
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3 Replies

My tax return on Turbo Tax is saying I need to file form 8995, but I don't own a business. I'm an independent contractor with Instacart.

You are self-employed as an independent contractor so you do have a business.  You are eligible for the Qualified Business Income Deduction using Form 8995.

Form 8995 is estimated to be finalized and available in TurboTax on 01/26/2023.

 

Note - The IRS will not be accepting any tax returns until 01/23/2023.

My tax return on Turbo Tax is saying I need to file form 8995, but I don't own a business. I'm an independent contractor with Instacart.

Form 8995 is used to calculate the Qualified Business Income deduction (QBI deduction).

 

If you are an independent contractor, you have business income.

BillM223
Expert Alumni

My tax return on Turbo Tax is saying I need to file form 8995, but I don't own a business. I'm an independent contractor with Instacart.

As the others above noted, as an independent contractor, you are in the business of providing services, grocery delivery in your case. This qualifies you to potentially receive a QBI deduction. This is good for you, because it reduces your taxable income.

 

Last year, is it possible that your Schedule C income (net of expenses) was less than zero? Then you would not have qualified for the QBI deduction, and thus, no 8995 for 2021.

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