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I am frustrated; my turbo tax online version populated a non-existent business income deduction (Form 8995), and I can't get to forms to delete the line or forms. Help!

Forum|Forum|2 years ago
March 4, 2024
1 reply
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I think it is locked because I already paid for deluxe version, and I don't want to pay another $127 for live assist; this is ridiculous!

TurboTax Deluxe Online

Best answer by JamesG1

Do you report any of the following on your tax return?

Self-employment income (including 1099-Misc reported income),
K-1,
1099-Div box 5 income.

One of these items is generating the IRS form 8995.

If you are able to view IRS form 8995, the form will list the income that is generating the Qualified Business Income Deduction.

If you are able to remove that income, you should be able to remove the Qualified Business Income Deduction. But I suspect that you qualify for the deduction under current tax law.

View the entries at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.

See also this TurboTax Help.

@wrand0302

DoninGA

If the form 8995 is in the list of your forms, schedules and worksheets you can delete the form

Click on Tax Tools on the left side of the online program screen

Click on Tools

Click on Delete a form

W

wrand0302Author

Thank you, but it didn't work. I think that since I have already paid, the delete function is locked. I can't clear and start over either - very frustrating. Do you know a way around?

J

JamesG1Answer

Do you report any of the following on your tax return?

Self-employment income (including 1099-Misc reported income),
K-1,
1099-Div box 5 income.

One of these items is generating the IRS form 8995.

If you are able to view IRS form 8995, the form will list the income that is generating the Qualified Business Income Deduction.

If you are able to remove that income, you should be able to remove the Qualified Business Income Deduction. But I suspect that you qualify for the deduction under current tax law.

View the entries at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.