Tax Return Project

Form 8995 Department of the Treasury Internal Revenue Service

Qualified Business Income Deduction Simplified Computation

▶ Attach to your tax return. ▶ Go to www.irs.gov/Form8995 for instructions and the latest information.

OMB No. 1545-2294

2020 Attachment Sequence No. 55

Name(s) shown on return Your taxpayer identification number

Note. You can claim the qualified business income deduction only if you have qualified business income from a qualified trade or business, real estate investment trust dividends, publicly traded partnership income, or a domestic production activities deduction passed through from an agricultural or horticultural cooperative. See instructions. Use this form if your taxable income, before your qualified business income deduction, is at or below $163,300 ($326,600 if married filing jointly), and you aren’t a patron of an agricultural or horticultural cooperative.

1 (a) Trade, business, or aggregation name (b) Taxpayer identification number

(c) Qualified business income or (loss)

i

ii

iii

iv

v

2 Total qualified business income or (loss). Combine lines 1i through 1v, column (c) . . . . . . . . . . . . . . . . . . . . . . 2

3 Qualified business net (loss) carryforward from the prior year . . . . . . . 3 ( ) 4 Total qualified business income. Combine lines 2 and 3. If zero or less, enter -0- 4 5 Qualified business income component. Multiply line 4 by 20% (0.20) . . . . . . . . . . . 5 6

Qualified REIT dividends and publicly traded partnership (PTP) income or (loss) (see instructions) . . . . . . . . . . . . . . . . . . . . 6

7 Qualified REIT dividends and qualified PTP (loss) carryforward from the prior year . . . . . . . . . . . . . . . . . . . . . . . . . 7 ( )

8 Total qualified REIT dividends and PTP income. Combine lines 6 and 7. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . 8

9 REIT and PTP component. Multiply line 8 by 20% (0.20) . . . . . . . . . . . . . . . 9 10 Qualified business income deduction before the income limitation. Add lines 5 and 9 . . . . . . 10 11 Taxable income before qualified business income deduction . . . . . . 11 12 Net capital gain (see instructions) . . . . . . . . . . . . . . . 12 13 Subtract line 12 from line 11. If zero or less, enter -0- . . . . . . . . 13 14 Income limitation. Multiply line 13 by 20% (0.20) . . . . . . . . . . . . . . . . . . 14 15 Qualified business income deduction. Enter the lesser of line 10 or line 14. Also enter this amount on

the applicable line of your return . . . . . . . . . . . . . . . . . . . . . . ▶ 15 16 Total qualified business (loss) carryforward. Combine lines 2 and 3. If greater than zero, enter -0- . . 16 ( ) 17 Total qualified REIT dividends and PTP (loss) carryforward. Combine lines 6 and 7. If greater than

zero, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 ( ) For Privacy Act and Paperwork Reduction Act Notice, see instructions. Cat. No. 37806C Form 8995 (2020)

Version A, Cycle 7

INTERNAL USE ONLY DRAFT AS OF

January 11, 2021

2020 Form 8995

SE:W:CAR:MP

Qualified Business Income Deduction Simplified Computation

Form  8995

Department of the Treasury Internal Revenue Service

Qualified Business Income DeductionSimplified Computation

▶ Attach to your tax return.

▶ Go to www.irs.gov/Form8995 for instructions and the latest information.

OMB No. 1545-2294

2020

2020. Cat. No. 37814C.

AttachmentSequence No. 55

Attachment Sequence No. 55. For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Note. You can claim the qualified business income deduction only if you have qualified business income from a qualified trade or business, real estate investment trust dividends, publicly traded partnership income, or a domestic production activities deduction passed through from an agricultural or horticultural cooperative. See instructions. 

Use this form if your taxable income, before your qualified business income deduction, is at or below $163,300 ($326,600 if married filing jointly), and you aren’t a patron of an agricultural or horticultural cooperative.

1

(a)  Trade, business, or aggregation name 

(b)  Taxpayer identification number  

(c) Qualified businessincome or (loss)  

i

ii

iii

iv

v

2

Total qualified business income or (loss). Combine lines 1i through 1v,   column (c)          

2

3

Qualified business net (loss) carryforward from the prior year         

3

(                          )

4

Total qualified business income. Combine lines 2 and 3. If zero or less, enter -0-          

4

5

Qualified business income component. Multiply line 4 by 20% (0.20)           

5

6

 

Qualified REIT dividends and publicly traded partnership (PTP) income or (loss) (see instructions)          

6

7

Qualified REIT dividends and qualified PTP (loss) carryforward from the prior year         

7

(                          )

8

Total qualified REIT dividends and PTP income. Combine lines 6 and 7. If zero or less, enter -0-          

8

9

REIT and PTP component. Multiply line 8 by 20% (0.20)          

9

10

Qualified business income deduction before the income limitation. Add lines 5 and 9           

10

11

Taxable income before qualified business income deduction          

11

12

Net capital gain (see instructions)          

12

13

Subtract line 12 from line 11. If zero or less, enter -0-          

13

14

Income limitation. Multiply line 13 by 20% (0.20)           

14

15

Qualified business income deduction. Enter the lesser of line 10 or line 14. Also enter this amount on the applicable line of your return           ▶

15

16

Total qualified business (loss) carryforward. Combine lines 2 and 3. If greater than zero, enter -0-           

16

(         )

17

Total qualified REIT dividends and PTP (loss) carryforward. Combine lines 6 and 7. If greater than zero, enter -0-           

17

(         )

For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Cat. No. 37806C

        Form 8995 (2020)