If an individual taxpayer receives qualified business income (QBI) during the tax year, the individual can include Form 8995 to calculate their QBI deduction. This example covers the QBI deduction for a specified service trade or business (SSTB).
If an individual taxpayer receives qualified business income (QBI) during the tax year, the individual can include Form 8995 to calculate their QBI deduction. This example covers QBI deduction with loss carryforwards.
If an individual taxpayer receives qualified business income (QBI) during the tax year, the individual can include Form 8995 to calculate their QBI deduction. Investments in PTPs may pass-through QBI information for the taxpayer.
This article and video tutorials will cover the basics of the Section 199A deduction and how to complete the IRS Form 8995 or IRS Form 8995-A. View our YouTube videos for sample fact patterns and step-by-step instructions on completing the forms for various scenarios.
