Article: 50219
Overview
Form 8995 is used to calculate the Qualified Business Income (QBI) deduction. Individual taxpayers, as well as certain trusts and estates, may be eligible to deduct up to 20% of their net QBI derived from a qualified trade or business, including income from pass-through entities (excluding C corporations). Additionally, the deduction may include 20% of qualified Real Estate Investment Trust (REIT) dividends and qualified Publicly Traded Partnership (PTP) income.
However, the total QBI deduction is generally limited to 20% of taxable income, computed prior to the QBI deduction and reduced by net capital gain, increased by any qualified dividends.
Add Form 8995
To add the Form 8995:
- Go to Federal Taxes.
- Click Review.
- Click I’d like to see the forms I’ve filled out or search for a form.
- Enter Form 8995 in the search box and click on Form 8995 to add and open the form.
- Enter your information and click Save.
Further Information
See About Form 8995 and Instructions for Form 8995 for more information.