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Form 8995 not calculating correctly for 5 or more businesses

Chax4retrt

Form 8995 is not calculating correctly for 5 or more businesses when line 1V is "See Statement". I have 8 Rental Properties entered on multiple pages of Schedule E but when FreeTaxUSA website forwards the information into Form 8995, it does not equal the amounts entered.

Has anyone encountered this or do I just need to contact Support?

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Rental Income

Comments

CarleneF

Hi Chartertx4!

A rental property may be a qualifying business for the QBI deduction if it meets any of the following:

Your involvement with this property is so extensive that it's considered a trade or business.
You rent or license your property to a commonly controlled trade or business operated by an individual, partnership, or S corporation.
You meet the IRS safe harbor rules.

It's possible that some of the properties didn't flow to Form 8995 because of how the questions were answered in the software.