QBI Loss carryforward

[garyfranks]

Does anyone know the screen where I enter a carryforward loss to reduce the QBI deduction in the current year?  

[abctax55]

 Sch C?

Left side, under 'Sections', then under 'Prior Year Unallowed  Passive Losses.   Then down a bit to QBI.

[garyfranks]

It's from an S Corp that i didn't prepare last year.  

[abctax55 · Accepted solution]

For future reference, Lacerte has this snifty feature:
Go to where you expect the info/amount to appear. Right click on that field, then click on "jump to input". That will *usually* take you to where you to input the info (or give you the various options when there are multiple places).

I'm not sure it works on F 8995 or not.

[abctax55]

Likely in the same general area then - PAL carryforwards.

[jrescpa1]

Individual program. Screen 15 NOL.  Cur. Yr NOL / Misc.  At the bottom of the screen see Qualified Business Loss Carryovers. 

[mgdtax]

Can't make this work for the carryover to appear on Form 8995 line 3.  I did not prepare last year's return, so need to enter.  It appears as an NOL c/o, not QBI c/o, even though I am selecting QB Loss Carryover on the bottom left.  How do I differentiate between entering an NOL c/o and a QB c/o?

[mgdtax]

Forgot to mention that this is for a Sch E rental activity.   

Thank you

[taxmanbing04]

You may have figured it out by now, but if you enter the loss where you've indicated, it should show up on "Form 8995-A Sch C" which is a second page.  You should see it on line 2 of that form, then it will cancel out QBI income of various sources on that Sch C such that the amounts on Form 8995-A are reduced or eliminated.

[mgdtax]

Thank you for your response. 

I did figure it out - the issue was that my screen was not showing the bottom part of the screen 15, the grid entry.   I had to physically drag the bottom of the screen up to display all the additional fields, and I was able to see where to enter the QBI carryforward.

It is now showing up on Form 8995, line 3, as expected.  Form 8995-A does not apply to this client.

Thank you