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Level 5
December 7, 2019
Solved

Why is the Schedule F loss being suspended and not allowed; and not being claimed against Schedule C income

  • December 7, 2019
  • 1 reply
  • 10 views

In 2017 and earlier years, my client had net positive income on Schedule C, and would have a net loss, negative income on Schedule F.  The negative loss on Schedule F would be applied against the positive income on Schedule C, to reduce the overall net income.    That is not happening this year.  Why is that.  When I look at the worksheets etc. for Schedule F, the loss is being suspended, but yet for QBI income purposes the loss is a negative number.    This is very odd.   What is going on here. 

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Best answer by sjrcpa

Basis limitaion for Schedule ? At risk limitation? Passive activity?

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

Basis limitaion for Schedule ? At risk limitation? Passive activity?

The more I know the more I don’t know.
Level 7
December 7, 2019
My loss on 1040 F flows to Sched 1, line 18 as a loss.
Also, I think it's supposed to track for QBI, like a nol but only for QBI.