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Qualified Business Income Deduction not showing on form 8995

Forum|Forum|4 years ago
March 9, 2022
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QB showed both my husband and I as having a qualified business income deduction, but only my husband's is present on form 8995.

Both business incomes are for Schedule C income. I don't see any difference between the two Schedule Cs.

The self employed health care deduction is coming off my business income and is more than my business income. Is this why it shows as me having no qualified business income deduction on form 8995.

Best answer by FangxiaL

After taking into account the health insurance premiums, even though it does not reduce your net business income for self-employment purposes, it does affect the QBI deduction amount. That explains why it does not include your QBI deduction on Form 8995.

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FangxiaL

Health insurance premium paid should not reduce your QBI. Does your Schedule C show net profit?

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D

dsahjk321Author

Yes.

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FangxiaLAnswer

After taking into account the health insurance premiums, even though it does not reduce your net business income for self-employment purposes, it does affect the QBI deduction amount. That explains why it does not include your QBI deduction on Form 8995.

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