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- Why would 2022 loss carryforward of $-63,623 not offset 2023 K-1 income of $219,957. The carryforward is applied on QBI worksheet, but does not reduce the total income.
Why would 2022 loss carryforward of $-63,623 not offset 2023 K-1 income of $219,957. The carryforward is applied on QBI worksheet, but does not reduce the total income.
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jjm-cffsllc-com
Level 1
1 Comment 1
sjrcpa
Level 15
Tuesday
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QBI loss carryforward only offsets current year QBI for purposes of the Qualified Business Income Deduction.
It is neither a passive loss carryforward nor an NOL carryforward.
Ex-AllStar
