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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.
Information about Form 8995, Qualified Business Income Deduction Simplified Computation, including recent updates, related forms and instructions on how to file. Use Form 8995 to figure your qualified business income deduction.
2023 Schedule A (Form 8995-A) Complete Schedule A only if your trade or business is a specified service trade or business (see instructions) and your taxable income is more than $182,100 but not $232,100 ($364,200 and $464,200 if married filing jointly).
You can use Form 8995 if your 2023 total taxable income (before the qualified business income deduction) is less than $182,100 ($364,200 for joint filers) and you're not a patron of an agricultural or horticultural cooperative. Otherwise, you’ll use the longer Form 8995-A.
We incorporate all significant changes to forms posted with this coversheet. However, unexpected issues occasionally arise, or legislation is passed—in this case, we will post a new draft of the form to alert users that changes were made to the previously posted draft.
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.