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QBI

Qualified business income deduction calculations

UltraTax CS calculates the qualified business income deduction (QBID) on Form 1040, line 13 using the following forms.

Form 8995: Qualified Business Income Deduction Simplified Computation

This form prints when all the following conditions are met:
  • The taxpayer has qualified business income qualified business income (QBI).
  • Taxable income before QBID is less than $170,050 ($340,100 if married filing jointly).
  • The taxpayer isn't a patron in a specified agricultural or horticultural cooperative.

Form 8995-A: Qualified Business Income Deduction

This form prints under the following conditions:
  • The taxpayer has QBI.
  • Taxable income before QBID is more than $170,050 ($340,100 if married filing jointly).
  • Or the taxpayer is a patron in a specified agricultural or horticultural cooperative.
The following schedules calculate as components of Form 8995-A:
  • Schedule A - Specified Service Trades or Businesses
  • Schedule B - Aggregation of Business Operations
  • Schedule C - Loss Netting and Carryforward
  • Schedule D - Special Rules for Patrons of Agricultural or Horticultural Cooperatives
For a breakdown of each activity’s QBI, see the Qualified Business Income worksheet on the last page of the Schedule C, Schedule F, or Schedule E in Form view. These worksheets explain the amounts for each activity that transfers to the QBID forms and schedules.
UltraTax CS will print supporting QBI statements with the worksheets as necessary to give more information.

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