jensen607
Level 2
03-04-2021
06:59 PM
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itonewbie
Level 15
03-04-2021
08:31 PM
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- Go to the screen that reports that particular business' income;
- Click on the Less Common Scenario tab;
- Scroll down to the Prior Year Unallowed Passive Losses section; and
- Enter the relevant details under QBI.
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Still an AllStar
Still an AllStar
Level 4
09-21-2023
02:16 PM
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The other answer explained what to do if the QBI carryforward was from passive income, but there can also be QBI carryforward because the business had a NOL the previous year.
In that case, it goes on Income -> Net Operating Loss -> Federal Net Operating Loss -> Qualified Business Loss Carryovers -> Qualified business loss carryover.
George4Tacks
Level 15
09-21-2023
04:44 PM
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For 1040 look at Net Operating Loss > Federal Net Operating Loss and scroll to the last set of 3 entries.
Answers are easy. Questions are hard!