I received a 1099-Div that shows 199a dividends in box 5. I can’t understand whether I need to report these on 8995 or not. If yes, how? The instructions don’t make much sense beyond that I will need to file 8995A. Help appreciated

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If you file 8995 the amount in box 5 would go on line 6 of 8995. If filing 8995-a the amount on box 5 would go on line 28

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So I did get K1 forms in the mail today. All of the lines in part III from 1-20 is zero. So I’m guessing I’d stick with the 8995a form only? I wonder though why nothing showed up on the K1, yet shows up on the composite statement received from the brokerage

You are doing all this manually????

Dont you guys have softwares?? I am not saying not knowing how it works is okay, but just a curious question to understand am i privileged to get the software to do all the flowing of numbers part?

I don't like to use software. I've always filed my taxes in print. Using taxes makes you dependent on the software, over time. When I do it manually, I know my taxes better

Agreed, Here at Deloitte there are budgeted hours and we can't go over it. And all the tools and tech in mandatory for us to use. Can't do manually even if i wanted to.

We do build workpapers that replicate the return but the end of the day everything has to be done in the software so they can be e-filed without client worrying to say the least.

I’d use SurePrep if I ran my own CPA firm & did individual taxes 😜

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