My K-1 has QBI info, but how do I know whether to use Form 8995 or Form 8995-A?
I received a K-1 from a U.S. partnership and the attachment includes QBI information, W-2 wages, and UBIA figures. That made me assume Form 8995-A is always required whenever a K-1 shows all those details. Another preparer told me the simpler Form 8995 can still be correct if taxable income stays under the threshold.
I am trying to avoid overcomplicating the return, but I also do not want to file the wrong form because I looked only at the attachment and not the actual threshold rule. What should control the form choice?
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