The IRS on Friday posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A.
The IRS issued a draft of new Form 8995, Qualified Business Income Deduction Simplified Computation, on which taxpayers with qualified business income (QBI), qualified real estate investment trust ...
For 2018 tax returns, this item was reported on Schedule 1 as an extra deduction that then flowed forward as part of final Adjusted Gross Income (AGI). For 2019, this deduction is simply part of the ...
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