Reply To: Clueless about “Section 199A dividends”

Home Fairmark Forum Taxation of Investments Clueless about “Section 199A dividends” Reply To: Clueless about “Section 199A dividends”

#5187
kaneohe
Participant

Apparently there are 2 forms 8995 and 8995A. Use the appropriate one.

“Use Form 8995 (Qualified Business Income Deduction—Simplified Computation) if:

the taxpayer has QBI, qualified REIT dividends, or qualified PTP income;
2019 taxable income before QBI deduction isn’t more than $160,700 ($321,400 if married filing jointly); and
the taxpayer isn’t a patron in a specified agricultural or horticultural cooperative.
Use Form 8995-A (Qualified Business Income Deduction) if:

the taxpayer has QBI, qualified REIT dividends, or qualified PTP income, and
2019 taxable income before QBI deduction is more than $160,700 ($321,400 if married filing jointly); or
the taxpayer is a patron in a specified agricultural or horticultural cooperative.”