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    • Created with Sketch. In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
    Created with Sketch. In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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    Trust QBI on 8995

    rochelle
    Level 2
    ‎04-09-2021 09:37 AM

    A 2020 trust return  has a  QBI Loss carryforward from 2019 of $8K. 2020 QBI is $50K. Same activity, but the QBI is showing as $0 on Form 8995. The 2019 loss c/forward is waiting there to offset it, but how do I get my income to pull? I haven't changed any coding, and even created a "dummy" schedule C and Schedule F to see if those income figures would pull - no luck. What have I missed? TIA!!!

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    3 Comments 3
    PhoebeRoberts
    Level 11
    Level 11
    ‎04-09-2021 09:40 AM

    Any distributions carrying out DNI? Is it possible that the QBI is being distributed to the bennies?

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    rochelle
    Level 2
    ‎04-09-2021 09:43 AM

    Ah, yes - it's a Simple trust. Do I reduce it for the loss carryforward?

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    PhoebeRoberts
    Level 11
    Level 11
    ‎04-09-2021 10:37 AM

    No clue, sorry! I don't have any trusts with QBI.

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