Question on QBI re 2019 taxes
Re: form 8995 QBI-Business Income deduction calculation
Line 12 on form 8995 relates to net capital gains.
Does this line also include Capital losses from 1040 Schedule 1,(additional Income and adjustments) line 4 -Other Gains and losses?
We have Sec 1244 losses from stock. Capital "losses" which are entered on Schedule 1 line 4.
If you look again at Line 12, it tells you to look at the instructions. The instructions tell you where to find your net capital gain.
Line 12 instructions for someone filing a 1040.
Enter the amount from your tax return as follows. Form 1040 or 1040-SR, line 3a, plus your net capital gain. If you?re not required to file Schedule D (Form 1040 or 1040-SR), your net capital gain is the amount reported on Form 1040 or 1040-SR, line 6. If you file Schedule D (Form 1040 or 1040-SR), your net capital gain is the smaller of Schedule D (Form 1040 or 1040-SR), line 15 or 16, unless line 15 or
16 is zero or less, in which case nothing is added to the qualified dividends.Have something to add? Share your thoughts — no account required.
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