WHERE DO WE ENTER FORM 8995 QUALIFIED BUSINESS INCOME DEDUCTION LOSS CARRYFORWARD FROM THE PRIOR YEARS

[Liz]

I CAN'T FIGURE OUT WHERE TO ENTER QBI LOSS FROM PRIOR YEARS

[PhoebeRoberts]

Screen 15, way down at the bottom, assuming the losses weren't suspended due to passive / basis / at-risk limitations in the prior year.

[Liz]

Yes, I put it there but the whole Form 8995 is still blank.  I had to input in a fake Sch C and and then put in there under Prior Year Unallowed Passive and that finally forced Form 8995.  BTW this is for a new client that I am trying to copy their 2019 tax return to proforma to 2020 so now when I send them the organizer it's going to have a Sch C on it.  😞  Weird that Lacerte doesn't just have an overwrite for this, right?

[PhoebeRoberts]

The carryforward for passive QBI losses not allowed is not the same thing as the carryforward for allowed QBI losses. You won't have an 8995 unless there's current-year QBI activity.

[SAW]

Doesn't work!