michelles17
Level 1
05-19-2020
03:04 PM
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My situation is a 1040 return that has a K-1 (1065) loss generated in 2018.
ProSeries is giving me an error on the QBI Carryovers section of the K-1 worksheet. Proseries is telling me that QBI suspended loss - passive carryover to 2019 should not have a value when no previously disallowed losses are present for regular tax purposes.
The client did indeed have a previously disallowed loss for regular tax purposes in 2018. I should be able to aggregate all the losses in this client's multiple 2019 K-1 QBI activities and apply the suspended passive carried forward loss from 2018. Nothing is being carried to the 8995 for the losses. What am I missing?
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