I am using turbo tax to file tax return. I have a few rental properties. It used to be just schedule E. for year 2018, I got QBI without any additional forms.
for year 2019, Turbo Tax added Schedule C (form 8995-A) Loss Netting and Carry Forward.
I’m confused because I never had to file schedule C before. even year 2018’s QBI didn’t require any special forms.
I’d appreciate if anyone can elaborate a bit on this.
Form 8995 / 8995-A – Qualified Business Income Deduction. … the individual has qualified business income (QBI), qualified REIT dividends, or qualified PTP income or loss; taxable income before QBID is less than or equal to certain thresholds: Single, HOH, Qualifying Widow(er): $160,700 (2018: $157,500)