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Level 2
December 7, 2019
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Should current year QBI be calculated on actual applicable business income or on the amount of business income after being offset by carryover losses from prior years?

  • December 7, 2019
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Best answer by sjrcpa

For 2018, on current year income/loss. Carryovers from prior years are not QBI because QBI did not exist then.

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sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

For 2018, on current year income/loss. Carryovers from prior years are not QBI because QBI did not exist then.

The more I know the more I don’t know.