QBI loss carryover not rolling forward to 2022

Forum|Forum|4 years ago
April 13, 2022
1 reply
10 views

2020 final K-1 had QBI loss which shows as carryforward from 2020 in 2021 carryover worksheet. There is no business activity on 2021 return and no K-1 worksheet for the final K-1 in 2020. The QBI loss carryforward does not show on the carryover worksheet from 2021 to 2022. It would flow from Form 8995 or 8995A but those forms didn't populate.

Shouldn't that QBI loss carryforward to 2022? Does it need to reported anywhere on 2021 return? I can override on the carryover worksheet but wondering if I'm missing something?

ProSeries Professional

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Just-Lisa-Now-

Intuit Community Champion

Check the federal carryover worksheet, Line 29. If its missing you can enter it there.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

M

mary annAuthor

Level 3

The system won't allow you to enter a negative value on line 29. But line 29 flows from Qualified Business Income Deduction Summary line 8. I can override that line with the negative and it then shows on line 29. I don't like to override, but don't know of another solution right now.

Just-Lisa-Now-

Intuit Community Champion

Line 29 is for a loss carryforward, you enter it as a positive in the 2020 box.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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