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dan222
New Member

Why do I have form 8995 generated?

 
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3 Replies
MayaD
Employee Tax Expert

Why do I have form 8995 generated?

You might use Form 8995 if:

  • You have a business.
  • Received K-1 form.
  • Have a rental activity
  • Received REIT dividend.

 

Taxpayers use Form 8995 to figure their qualified business income (QBI) deduction. Individual taxpayers and some trusts and estates may be entitled to a deduction of up to 20% of their net QBI from a trade or business, including income from a pass-through entity, but not from a C corporation, plus 20% of qualified real estate investment trust (REIT) dividends and qualified publicly traded partnership (PTP) income. Instructions for Form 8995 (2021)

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Why do I have form 8995 generated?

I did not enter in any business income, so why is this form generating?

DMarkM1
Employee Tax Expert

Why do I have form 8995 generated?

Many times for those without a business or renal property an amount in Box 5 of a form 1099-Div causes the form generation.

 

The Form 8995 would generate if:

  • You have a business.
  • Received K-1 form.
  • Have a rental activity
  • Received REIT dividend (Box 5 on a form 1099-DIV).

 

 

 

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