CuriousJoe
Dryer sheet aficionado
- Joined
- May 21, 2014
- Messages
- 47
Folks:
Apologies if I am posting in the wrong section. Not sure where to post.
My accountant has been doing our taxes, and she included Form 8995 Qualified Business Income(QBI) deduction. My spouse is self employed with K-1, and I am on W-2.
I asked the accountant where does the amount on Form 8995 Line 1 Column (c) QBI come from? She said it 'automatically' comes from another Form!! She has no clue!
Can someone shed some light on this?
Based on IRS instructions, it comes from K-1 amount less 1/2 of W-2 wages. When I used this formula, amount did not match (but close)
Thanks
Apologies if I am posting in the wrong section. Not sure where to post.
My accountant has been doing our taxes, and she included Form 8995 Qualified Business Income(QBI) deduction. My spouse is self employed with K-1, and I am on W-2.
I asked the accountant where does the amount on Form 8995 Line 1 Column (c) QBI come from? She said it 'automatically' comes from another Form!! She has no clue!
Can someone shed some light on this?
Based on IRS instructions, it comes from K-1 amount less 1/2 of W-2 wages. When I used this formula, amount did not match (but close)
Thanks