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1. What is an 8995 Form?
Form 8995 (Qualified Business Income Deduction Simplified Computation) is the IRS federal tax form that is used for calculating the qualified business income deduction from your trade, business, or aggregation. After filling out the form, you have to attach it to your tax return and file both documents to the local Internal Revenue Service office. It cannot be filed as a standalone form as it doesn’t contain enough personal information.
2. What I need the 8995 Form for?
- You have to file the fillable Form 8995 along with your annual tax return in order to disclose your calculations to the IRS;
- File to claim your qualified business income or loss;
- Use it to calculate and claim qualified business income or loss from multiple trades, aggregations, and businesses;
- Don’t use this form for reporting dividend and interest income and other types of income rather than qualified business income.
3. How to fill out Form 8995?
The 8995 Form is a single-page PDF blank that requires you to enter business income information, including:
- Your name and Taxpayer Identification Number (TIN) as shown on your return;
- From 1 to 5 official names of businesses, trades, or aggregations;
- Next, you have to follow the instructions in lines 2-17 to calculate all the required figures. Do the calculations on a spare worksheet and fill the boxes only after you double-check each result.
You can also simply download Form 8995 from this PDFLiner page or print it directly from the website after filling out online in our cloud tax form editor. Try the full feature set within 10 days for free.
4. Organizations that work with Form 8995
- US Internal Revenue Service (IRS).
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Fillable online Form 8995