IRS · Official form

Form 8995, Qualified Business Income Deduction Simplified Computation

Form 8995 is the short form for figuring the qualified business income (QBI) deduction, generally worth up to 20 percent of qualified business income. Fill in the official IRS PDF below and download it.

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What is 8995?

Form 8995, Qualified Business Income Deduction Simplified Computation, figures the section 199A deduction for owners of pass-through businesses such as sole proprietorships, partnerships, and S corporations. The deduction is generally up to 20 percent of qualified business income, plus 20 percent of qualified REIT dividends and publicly traded partnership income.

The simplified form is for taxpayers whose taxable income is at or below the annual threshold and who are not otherwise required to use Form 8995-A. It lists each trade or business, nets the income and losses, applies the percentage, and tracks loss carryforwards.

Who files 8995?

Sole proprietors reporting business income on Schedule C who qualify for the QBI deduction
Partners and S corporation shareholders with qualified business income from a K-1
Landlords whose rental activity rises to the level of a trade or business
Taxpayers with qualified REIT dividends or publicly traded partnership income

How to fill out 8995

List each trade or business and its qualified business income or loss on lines 1 through 4.
Apply the 20 percent rate to your total qualified business income.
Enter qualified REIT dividends and PTP income, apply the 20 percent rate, and combine the amounts.
Apply the taxable income limitation to find your allowed deduction, and note any loss carryforwards to next year.
Download the finished PDF and attach it to your Form 1040, entering the deduction on the line indicated in the instructions.

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Page 1 33 fields

Name(s) shown on return

Your taxpayer identification number

1. Row: i. Column: (a) Trade, business, or aggregation name.

Row: i. Column: (b) Taxpayer identification number.

Row: i. Column: (c) Qualified business income or (loss).

Row: i i. Column: (a) Trade, business, or aggregation name.

Row: i i. Column: (b) Taxpayer identification number.

Row: i i. Column: (c) Qualified business income or (loss).

Row: i i i. Column: (a) Trade, business, or aggregation name.

Row: i i i. Column: (b) Taxpayer identification number.

Row: i i i. Column: (c) Qualified business income or (loss).

Row: i v. Column: (a) Trade, business, or aggregation name.

Row: i v. Column: (b) Taxpayer identification number.

Row: i v. Column: (c) Qualified business income or (loss).

Row: v. Column: (a) Trade, business, or aggregation name.

Row: v. Column: (b) Taxpayer identification number.

Row: v. Column: (c) Qualified business income or (loss).

2. Total qualified business income or (loss). Combine lines 1 i through 1 v, column (c).

3. Open parenthesis. Qualified business net (loss) carryforward from the prior year. Close parenthesis.

4. Total qualified business income. Combine lines 2 and 3. If zero or less, enter 0.

5. Qualified business income component. Multiply line 4 by 20% (0.20).

6. Qualified R E I T dividends and publicly traded partnership (P T P) income or (loss) (see instructions).

7. Open parenthesis. Qualified R E I T dividends and qualified P T P (loss) carryforward from the prior year. Close parenthesis.

8. Total qualified R E I T dividends and P T P income. Combine lines 6 and 7. If zero or less, enter 0.

9. R E I T and P T P component. Multiply line 8 by 20% (0.20).

10. Qualified business income deduction before the income limitation. Add lines 5 and 9.

11. Taxable income before qualified business income deduction (see instructions).

12. Enter your net capital gain, if any, increased by any qualified dividends (see instructions).

13. Subtract line 12 from line 11. If zero or less, enter 0.

14. Income limitation. Multiply line 13 by 20% (0.20).

15. Qualified business income deduction. Enter the smaller of line 10 or line 14. Also enter this amount on the applicable line of your

16. Open parenthesis. Total qualified business (loss) carryforward. Combine lines 2 and 3. If greater than zero, enter 0. Close parenthesis.

17. Open parenthesis. Total qualified R E I T dividends and P T P (loss) carryforward. Combine lines 6 and 7. If greater than zero, enter

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Frequently asked questions

Should I use Form 8995 or Form 8995-A?

Use Form 8995 if your taxable income before the deduction is at or below the annual threshold for your filing status and no special situations apply. Above the threshold, or with agricultural cooperative patronage adjustments, you must use Form 8995-A. The thresholds are inflation adjusted, so check the current instructions.

Does W-2 wage income qualify for the QBI deduction?

No. Wages you earn as an employee are not qualified business income. The deduction applies to income from a trade or business you own through a sole proprietorship, partnership, S corporation, or certain trusts.

What if my qualified business income is negative?

A net qualified business loss gives no deduction for the year and carries forward, reducing your qualified business income in the next year. Form 8995 tracks that carryforward on its final lines.

Form 8995, Qualified Business Income Deduction Simplified Computation

What is 8995?

Who files 8995?

How to fill out 8995

Quick fill 8995 on this page

Frequently asked questions

Related forms

Form 8995-A, Qualified Business Income Deduction

Schedule C, Profit or Loss From Business

Form 1040, US Individual Income Tax Return