Draft Forms for QBI Deduction Section 199A

The IRS has released two draft forms to compute the qualified business income (QBI) deduction under Section 199A. The draft forms are Form 8995 (“Qualified Business Income Deduction Simplified Computation”) and Form 8995-A (“Qualified Business Income Deduction”). QBI generally is defined as the net amount of “qualified items of income, gain, deduction and loss” relating to any qualified trade or business of the taxpayer. Click here to review draft Form 8995 and click here draft Form 8995-A.

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Sources:
IRS. 2019 Form 8995. https://www.irs.gov/pub/irs-dft/f8995–dft.pdf
IRS. 2019 Form 8995-A. https://www.irs.gov/pub/irs-dft/f8995a–dft.pdf