HOPE2
Level 9
01-31-2022
01:40 AM
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Thanks a lot. I am not sure wave election was made by pervious tax man for carryback in 2019 when client had NOL and QBI loss. Since client new for me, how can I find out regarding the election if it was made in 2019 return? Also in his 2020 tax return I did not see any carryforward NOL however client had QBI loss with no NOL in 2020. Now, with this situation is it ok to enter 2019 NOL in column 2020 or should it be in the 2021 column? If it is ok, should I consider QBI loss for two years, 2019 and 2020 as well? I mean should both carryforward to 2021 return.
Greatly appreciate this community