QBI Losses

[dc-cpa]

I am a first year ProConnect user.

I have a client who has QBI losses from prior years when I did not prepare his return.

How do I enter those prior year losses so that it will reduce this year's QBI, a profit this year?

Thanks

[dc-cpa]

Found it under Passive Losses for the Schedule F which doesn't make sense.

You would think it would be under the QBI section.

[dc-cpa]

Well that didn't work so I go back to my original question.

thanks

[ljsmith2 · Accepted solution]

I was in a similar situation with schedule E

Look to the very bottom of the Carryover Worksheet

It should allow you to enter the  QBI carryover losses from 2022 and auto populate the carryforward for 2023

You can then check it on the Form 8995 

[George4Tacks]

Look back to what the carryover was from. The input is at the bottom or a upper right CLICK ON for that activity. 

https://accountants.intuit.com/support/en-us/help-article/other-articles/enter-qbi-carryovers-procon...

[dc-cpa]

Thank you