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Level 1

Question

Why do I have form 8995 generated?

3 replies
40 views

No text available

Alumni - Intuit

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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Level 2

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

Employee Tax Expert

Employee Tax Expert

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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