Form 8995 - Qualified Business Income Deduction Simplified Computation

The purpose of Form 8995 is to determine the Qualified Business Income Deduction, also known as the Section 199A deduction, for owners of pass-through businesses. This deduction allows them to deduct up to 20% of their share of qualified business income. Form 8995 is a simplified version of the form, available to taxpayers whose total taxable income before the qualified business income deduction falls below a certain threshold.