Why does my return have an 8995 when I am not claiming any QBI? Is there a TurboTax program error that needs to be fixed?

[joshieburger]

My return is stuck with form 8995 and I have no business income. I cannot even find the area in the income or deductions section to be able to delete this form and it makes me wait until the form is ready to e-file. I do not want to wait until January 17th to file with a form I don't even need.

[Anonymous_]

See https://www.irs.gov/instructions/i8995#en_US_2022_publink1000294644

If you have certain types of income, the form will be generated (but not necessarily filed).

[joshieburger]

I understand that form is needed for those types of income, but as I stated, I dont have that income, yet TurboTax is attaching it to my return. So I think is is a Turbo Tax error in their system.

[Mike9241]

maybe a bug or maybe you have qualifying REIT dividends? try deleting the form. 

[joshieburger]

• I can’t delete the form. Turbo Tax doesnt give you a list of forms you have and options to delete them…? I will put it more simply, I do NOT need the form. I will repeat again, i have NO income that would be identified on this form. I have 2 simple incomes. Both with W2s. No 1099s or anything either. It may have originated back when I used to do ride sharing, but it has been 2 years since I have done that or used it as income. It seems like the system now just automatically attaches the form to all my returns. So the question is how do I get rid of this form being erroneously attached to my taxes, not do i need the form or not.

[DoninGA]

@joshieburger If you are using the TurboTax online editions for tax year 2023, use this process to delete a form or schedule that is part of the tax return -

Click on Tax Tools on the left side of the online program screen

Click on Tools

Click on Delete a form

Delete the Form 8995

[jvaski]

It is not a Turbo Tax error.   I confirmed that  a friend also has this on his return and we both trade stocks.  On the Form 8995 instructions section "Determining your Qualified Trades or Businesses - it states ;

"As provided in section 162, an activity qualifies as a trade or business if your primary purpose for engaging in the activity is for income or profit and you’re involved in the activity with continuity and regularity."

So the form is apparently required if you trade certain stocks and engage in profit from trading. 

** Look at your 1099 input into your Turbo Tax program.  Under my 2024 form 1099 Div section 5 reported $1.01 (one dollar and one cent) as 1099A Dividends - thereby triggering the Form 8995.