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Use this form if your taxable income, before your qualified business income deduction, is at or below $182,100 ($364,200 if married filing jointly), and you aren’t a patron of an agricultural or horticultural cooperative.
Use Form 8995 to figure your qualified business income (QBI) deduction.
Form 8995 to figure the QBI deduction if: • You have QBI, qualified REIT dividends, or qualified PTP income or loss (all defined later); and • Your 2023 taxable income before your QBI deduction is less than or equal to $182,100 if single, married filing separately, head of household, qualifying surviving spouse, or are a trust or
This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information. Do not file draft forms and do not rely on draft forms, instructions, and pubs for filing. We incorporate all significant changes to forms posted with this coversheet. However, unexpected issues occasionally arise ...
We last updated the Qualified Business Income Deduction Simplified Computation in January 2024, so this is the latest version of 8995, fully updated for tax year 2023. You can download or print current or past-year PDFs of 8995 directly from TaxFormFinder.
Get a 8995 (2023) here. Edit Online Instantly! - Form 8995 is used by owners of pass-through businesses to deduct up to 20% of their share of qualified business income.
Form 8995 is the IRS tax form that owners of pass-through entities—sole proprietorships, partnerships, LLCs, or S corporations—use to take the qualified business income (QBI) deduction, also known as the pass-through or Section 199A deduction.