Why did TT generate a 8995 form when I have no business income or capital gains? I can't get rid of it.

Forum|Forum|3 years ago
February 28, 2023
3 replies
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Some say it's generated because of a box on a 1099DIV that shows $0 instead of blank. How do I find the offending box?

TurboTax Deluxe Online

rjs

Employee

On Form 1099-DIV, box 5, "Section 199A dividends," is Qualified Business Income that is reported on Form 8995. If you have a 1099-DIV with a non-zero amount in box 5, just leave it, and don't try to get rid of the 8995.

Mike9241

any income from a master limited partnership or any amount on line 5 of a 1099-Div. any amount on line 15 of the 8995?

JohnW152

There are a number of different income types that can generate the Qualified Business Income deduction. One of them is Section 199A dividends, which are reflected in Box 5 of Form 1099-DIV, and considered to be Qualified Business Income.

The Qualified Business Income deduction (also called the QBI deduction, pass-through deduction, or section 199A deduction) was created by the 2017 Tax Cuts and Jobs Act (TCJA) and is in effect for tax years 2018 through 2025.

Please see the TurboTax Help article Surprised that you're getting the Qualified Business Income (QBI) deduction? to see what else qualifies.

Form 1099-DIV should not be altered, nor should Form 8995 be deleted.