Did you receive a K-1 from a partnership or S-Corporation? That could also trigger the Qualified Business Income (QBI) Credit (Form 8995A).
If not, see if the form appears in your list of forms and delete it. To do this, please follow these steps:
TurboTax Online
TurboTax CD/Download
I had the same issue. Thanks for the advice however Turbotax just keeps adding the form back. It looks like I have a small amount of income from a mutual fund that is giving me a $2 deduction that is being reported on this form. I guess I will wait for the form. Good to know how to look at Forms view. Been ages since I have looked at the forms view and forgot it existed.
this reply was more helpful than the initial entry, about minor mutual fund REIT. thanks!
See also this question, which has many people commenting (but no real solution...).
You will "...Use Form 8995-A to figure your qualified business income (QBI) deduction. Include the following schedules (their specific instructions are shown later), as appropriate:
Schedule A (Form 8995-A), Specified Service Trades or Businesses (SSTB);
Schedule B (Form 8995-A), Aggregation of Business Operations;
Schedule C (Form 8995-A), Loss Netting and Carryforward;
Schedule D (Form 8995-A), Special Rules for Patrons of Agricultural or Horticultural Cooperatives..." Ref IRS Instructions for Form 8995-A (2019)Instructions for Form 8995-A
Same issue with TurboTax adding the form back in. I apparently have a $20 deduction from a REIT in a stock fund. I'll just wait for the online form to publish. Thanks for the help.
I'm preparing to file taxes for my deceased mother and when reviewing the forms for filing before I hit send, Form 8995 popped up and produced a WTF moment. At least I can file since I can use the "Simplified Computation", but having this form titled Qualified Business Income Deduction when she clearly never had a business of any kind is beyond misleading for mutual fund dividends and capital gains. And the net result is zero anyway. What a waste.
I'm using Turbotax CD version and I accidentally created an aggregated business (Form 8995 Schedule B) and now I can't delete it. How can I go back and say I don't want to aggregate so that I can get rid of the form?
To delete Form 8995-A follow these steps:
With TurboTax open select Tax Tools in the left panel.
Select tools
Select delete forms
Select delete on the line for Form 8995-A
Select Delete Selected Form
Deleting this for didn't work.
When in the hell am I going to be able to file my taxes?
Do you report any of the following on your tax return?
One of these items is generating the IRS 8995-A form.
See this TurboTax Help.
I'm having the same trouble trying to disaggregate the combined businesses and eliminate schedule B. You spoke of the 1099, how did that solve your problem?
Forms 8995-A is used to calculate your Qualified Business Income Deduction QBID.
I was having a problem with this on my daughter's return. She's a 23-year-old grad student, does not own a business or have business/self-employment income, no 1099-MISCs, does not have interest/dividend/investment income of any kind (because she has no investments and her bank account does not pay interest) so no 1099-DIVs/INTs, no carryforwards, etc. etc. Absolutely nothing on the 8995 was applicable, period. All the fields TT insisted on populating were 0. Yet every time I told TT to delete the form, it was immediately re-created, and was being included among the forms needed for filing her federal return despite all those 0s .
Eventually I tracked it down to some "QBI worksheet" that TT was referring to, which had no entries at all AFAICT. When I told TT to delete that worksheet, the bogus 8995 disappeared as well. This seems like a bug to me. If the worksheet is empty, the form should not even be generated, let alone included for filing.
Have the same issue. Many are asking why TT is generating this form. If we delete the form, TT adds it back. Is this a form that the IRS insists on having with our taxes? If so, why. If not, why is TT adding it, and adding it back when deleted. I have zeros, so not sure why the form is there. I too found that where the zeros have to be deleted from the worksheets, then delete the form, and then it might stay deleted. TT seems fairly insistent on including this form. Does the IRS expect it? Even with a zero, the form generates.
Form 8995-A calculates your Qualified Business Income Deduction.
If you report any business income, including dividends, the form is needed.
> If you report any business income, including dividends, the form is needed.
But if you *don't* report any business income, *not even* dividends, the form is not needed and should not be generated. That's not what is happening. The form is being generated by TT and included with the documents *to be filed*, even when there is absolutely nothing to report on it. This is a bug.
You will have QBI if you have REIT Dividends reported in Box 5 of a 1099-DIV or on Section 199a on a Schedule K-1. The Form 8995 may be generating from one of these sources.
I appreciate your response. But as I've said, you cannot have REIT dividends if you have no investments at all. You cannot have other QBI if you have no connection of any sort with any business: no 1099-DIV, no 199A, no schedule K-1, no schedule C, no 1099-PATR, no PTP income or loss - nothing, nothing, nothing. I repeat: *none* of the items that are to be reported on the 8995-A exist for this return, which means the 8995-A is not needed and therefore *should not* be generated. And yet it is. It has nothing but zeroes on it. The QBI worksheet that TT uses to generate the 8995-A has nothing but zeroes on it. And still TT insists on generating the all-zeroes 8995-A and including it with the forms to be filed with the IRS. If you delete the form, TT just re-creates it, again, full of zeroes. This is wrong.
I understand that there was a change in how REIT income is reported for 2019 that has a lot of people surprised and confused. This, however, is a bug in TurboTax. Thank you.
Thank you @NM1.
It would be helpful to have a TurboTax ".tax2019" file that is experiencing this issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:
For TurboTax Online, click the dropdown arrow next to Tax Tools on the left menu panel, then click Tools under that. On the Tools Center pop-up, select Share my file with Agent. When you confirm the request, you will get a box with a token number. Reply with the token number and I’ll be able to open a TurboTax tax return with your numbers but not your personal information. That may help diagnose the issue.
For TurboTax Download/CD, on your menu bar at the very top, click “Online” and then “Send Tax File to Agent”. When you click to send, you will get a pop-up with the token number. Reply with the token number and I’ll be able to open a TurboTax tax return with your numbers but not your personal information.
@VictoriaD75 that was the reason. I found the income from REITs in the 1099-DIV.
It is now 4/6. When will this form be updated? I would love to file my taxes
I checked in my software and the form is available. You might require one if you have rental property or if you received a K1. You may wish to contact phone support so they can view your screen to see why this is occurring. Please select this link for information to contact phone support. In the meantime, if you are using Turbo Tax software instead of the online version, you may try this manual update.
If you're having trouble updating your TurboTax 2019 for Windows Individual software using the "Check for Updates" method, you can get the latest federal program update here: