Trust QBI on 8995

rochelle · ‎04-09-2021

A 2020 trust return has a QBI Loss carryforward from 2019 of $8K. 2020 QBI is $50K. Same activity, but the QBI is showing as $0 on Form 8995. The 2019 loss c/forward is waiting there to offset it, but how do I get my income to pull? I haven't changed any coding, and even created a "dummy" schedule C and Schedule F to see if those income figures would pull - no luck. What have I missed? TIA!!!

PhoebeRoberts · ‎04-09-2021

Any distributions carrying out DNI? Is it possible that the QBI is being distributed to the bennies?

rochelle · ‎04-09-2021

Ah, yes - it's a Simple trust. Do I reduce it for the loss carryforward?

PhoebeRoberts · ‎04-09-2021

No clue, sorry! I don't have any trusts with QBI.

Trust QBI on 8995

©1997-2024 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.