When will form 8895 be available for turbotax advantage

[edwardpasini]

The input for my 2020 return is complete except for form 8895 which is not yet available for turbo tax.  When will it be available?

[DoninGA]

I believe you meant Form 8995, Qualified Business Income Deduction.  This form is available.

If you are using the TurboTax desktop CD/Download editions make sure your software is at the latest release.  Click on Online at the top of the desktop program screen.  Click on Check for Updates.

If your software is up to date then click on Forms.  When in Forms mode click on Open Form at the top left of the screen.  Type in 8995.  Click on the result to open the form.  The form should have no watermarks indicating it is not available for filing.

[HelenC12]

I show Form 8995 is available per the forms availability FAQ.

If you're using the TurboTax CD\Download version, see Manually Update TurboTax for Windows Software (Basic, Deluxe, Premier, Home & Business)

Form 8995 Qualified Business Income Deduction Simplified Computation is used for the Qualified Business Income deduction (also called the QBI deduction, pass-through deduction, or section 199A deduction) was created by the 2017 Tax Cuts and Jobs Act (TCJA) and is in effect for tax years 2018 through 2025.

With the QBI deduction, most self-employed taxpayers and small business owners can exclude up to 20% of their qualified business income from federal income tax (but not self-employment tax) whether they itemize or not.

[patannino]

I have followed those instructions, but my 8995 still says "Do Not File" on it. How do I get the corrected form?

[DaraLO]

@patannino Is this a copy for your personal records, or are you trying to print and mail your return?  This form whould successfully e-file, even if "Do Not File" is on your copy.

[patannino]

It wouldn't let me e-file since the 8995 form wasn't up to date.

I did fix the problem, though. I had to uninstall TT 2020, reinstall and update. I don't know why, but it looks like it didn't or couldn't initially install the update that included the up to date form 8995, no matter how many times i had tried to update the software. It always would tell  me it was up to date. Oh well, it took about 10-15 minutes to uninstall/install/update, but it didn't delete my completed return as I had feared.

[JoannaB2]

Yes, The form 8995 is available now in Turbo Tax.  The form 8995, Qualified Business Income Deduction Simplified computation, is used to figure qualified business income (QBI) deduction up to 20% of the net QBI from trade or business.

See link, instructions for form 8995 2020. for more information.