Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online: Open or continue your return in TurboTax. In the left menu, select Tax Tools and then Tools. In the pop-up window Tool Center, choose Delete a form. Select Delete next to the form/ 8995 in the list and follow the instructions.

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gcm

Question

Anybody else here who had Form 8995 erroneously attached to their Federal return and cannot delete it?

Forum|Forum|6 years ago
February 2, 2020
8 replies
0 views

No text available

TurboTax Premier Online

LindaB1993

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

Open or continue your return in TurboTax.
In the left menu, select Tax Tools and then Tools.
In the pop-up window Tool Center, choose Delete a form.
Select Delete next to the form/ 8995 in the list and follow the instructions.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

gcmAuthor

That does not work for this form.

gcmAuthor

Form 8995 is "Qualified Business Income Deduction". I have no business or partnership or trust or estate eligible for it.

This form was triggered, in my case, by a box on my 1099-DIV for the mutual fund VTSAX. The box is "Section 199A" dividends. If you have business income you can take a deduction based on this amount. I do not qualify to take the deduction but in order to get rid of the form I would have to not report that Section 199A amount. Otherwise the form will not delete. There is no option in TurboTax to get rid of the form. You can't delete it unless you zero out that box from the 1099-DIV. Here is the most succint explanation I have found of what "The Qualified Business Income Deduction" is and who is eligible to take it. There should be an option in TurboTax to not send it if filing electronically.

https://www.policygenius.com/taxes/qbi-deduction/

richt

Yes. In previous years I have had a business, including 2018. I imported my file from last year to start this 2019 year's return. My business was closed on Dec 31 2018 and not operational in 2019; no income and no expenses to report. Yet the Form 8995 is attached to current return albeit all entries are $0.00. I presume it is a carry over from having imported last years return. But, I can not seem to delete the form from my copy of current return. I may have to stat a new return without importing prior year and manually enter information to prevent linking the form.

YellowMamba

Same situation as I. Business was closed in 2018, imported information into 2019, deleted all Self Employment information yet the Form 8995 continues to be attached to the Federal return no matter how many times I deleted the form. This needs to be addressed.

Donna44

I have two rental houses that it is putting on the form 8995. I do not feel that I meet the 250 hour rule so want to delete the form. It will not let me. Please fix this or tell me how to get rid of it.

Is there a box checked somewhere that causes this or?? please help

Thanks,

Donna

linaj20201

If you have not filed, here are the steps:

In TurboTax online,

Sign in to your account, select Pick up where you left off
To your left, Select Tax Tools/drop-down menu
Select Tools
Under Other helpful links, choose to Delete a form
Select Delete next to Form 8995 and Continue with My Return to proceed

Donna44

My version of Turbo Tax is Home and Business on a cd.

I do not have tax tool so now what do I do? If that would work I wouldn't need help.

I have a tools tab...but no tax tools?

Help

Donna44

brad92103

Employee

I had REIT/PTP income recorded in Box 5 of my 1099-DIV for a common mutual fund holding. Some mutual funds, such as a Stock Index Fund, do have some percentage of holdings that generate this 199A income. You would probably have to call financial institution to get this information. Take a look at Community answer https://ttlc.intuit.com/community/taxes/discussion/i-clicked-on-199a-now-i-cant-get-it-off-my-taxes-and-turbo-tax-will-not-help-with-it-at-all/00/1605712#M570745 which led me to conclusion that I am eligible to claim QBI Deduction for 20% of this 199A mutual fund dividend income, and this does NOT require me to have a QBI business (actually I do, but that is besides the point). My QBI deduction for dividends is $1 but I do have other qualifying QBI. I would say just go with it if you're pressed to get your return filed, and if you're not sure, buy TurboTax Audit Defense and if IRS ever calls you out on this (and I imagine it would have to be a big deduction relative to your income) defer to TurboTax . Or if you don't trust TT-generated return then jump through the hoops to delete it. I suspect if you downloaded your 1099-DIV financial info, you are going to have to go into the Sch B or related form wks and delete the 199A amount shown in Box 5 so that TT does not automatically re-create form 8995A. I hate things like this discovered late in the game, that TT does automatically and does not provide sufficient explanation, but I hate even more things TT doesn't do that absolutely it should check (e.g. it doesn't check royalty depletion as percentage of income figured without depletion). My answer is based on what I have concluded from about half-hour of research.

DavidS127

The Section 199A dividend in box 5 of your 1099-DIV is eligible for the Qualified Business Income Deduction.

@brad92103

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squartucci

Employee

Delete the "qualified business inc deduction summary form"

lotts82

None of these suggestions work. I am using the online version, rather than a desktop version. We do not want to file an 8995. This has apparently been triggered by my entering a form 1099-NEC, which triggers a form 1040 Schedule C. I have followed all instructions to delete the 8995 form, as well as the Qualified Business Income Component wkst and the Qualified Business Inc Deduction Summary. The webpage says "Form Successfully Deleted" when I click on "Delete this form" for any of those three forms. But then they are NOT deleted from the list and are still there when I go back to the list where it shows all my forms. So what now? Am I just totally stuck and can't file (having already paid TurboTax to file)? Is this an un-fixable error, or will it resolve after I wait for the IRS to approve a form that I do not want, and do not even need? This is for a very small amount of side income from a 1099-NEC.

JamesG1

I suspect that the Qualified Business Income Deduction (QBID) will be generated by the entry of the 1099-NEC / Schedule C income and cannot be overridden.

When you delete the form, the form 8995 goes away and then is immediately re-generated because the 1099-NEC / Schedule C income is still there.

Only by excluding the income, can the Qualified Business Income Deduction be removed.

The Qualified Business Income Deduction can be generated from one of two components.

The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate. The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1.
The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publicly traded partnership (PTP) income. The second component could be reported on 1099-DIV or a K-1.

See this TurboTax Help.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Shannonhope3

I have deleted the form 8995 & it still will not take it off. It will not allow me to file. I have to wait until February 12th. I do not even need this form!

mglauner

@Shannonhope3 If you have tried to Delete Form 8995 and it re-appears, there is something in your return generating the Form.

Do you have a Schedule C or Schedule E in your return? Interest or Dividends?

The Qualified Business Income (QBI) is a deduction for you, which is good, so you may want to wait for the form and claim the deduction.

Click this link for more info on the Qualified Business Income (QBI) Deduction that may help you figure out why you have it in your return.

Shannonhope3

I spent almost 2 hours on the phone with TurboTax & that lady couldn’t even figure it out.

Sunspot2

I just printed my return and noticed you competed and attached Form 8995 as part of my documents to be

mailed to IRS. I self manage my stock and bond portfolio with Vangusrd. I am unaware of any need for this

form. You have apparently added 9384 to my taxable income.

JamesG1

IRS Form 8995 computes the Qualified Business Income Deduction and should reduce your tax burden by reporting a deduction on line 13 of the Federal 1040 tax return.

The first component of the deduction would likely be reported on Schedule C, Schedule E, Schedule F, a K-1, from a sole proprietorship, partnership, S corporation, trust or estate.

The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publicly traded partnership (PTP) income. This component would be reported on 1099-DIV or a K-1.

If you can identify the source of the Qualified Business Income, you can delete the income or re-enter the income to make sure that the correct entry has been made.