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3bcd138c2de2
April 13, 2022
Question

Why is 1099-NEC royalties (Schedule E) being added to the 8995, in past years it was only the loss from Schedule C (gas/oil).

  • April 13, 2022
  • 1 reply
  • 0 views
Just not sure if I inputed something wrong somewhere else.  Looking back several years only the Schedule C loss was inputed.

1 reply

J
JamesG1
April 13, 2022

When entering the 1099-NEC royalties (Schedule E), you may have encountered the screen Is this Qualified Business Income?

 

If you selected Yes, this income is QBI, this activity would be added to IRS Form 8995 Qualified Business Income Deduction Simplified Computation line 1.

 

Return to this screen and select No if the income is not Qualified Business Income.

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