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How to enter QBI carryovers in ProConnect Tax

by ProConnect Tax Online Updated 5 months ago

ProConnect Tax will automatically calculate and carryforward any unallowed QBI amounts to the following year, however, if you are entering a new return you may need to enter the carryover from the prior year.

Where you enter this depends on if it is a passive QBI carryover or if has already been allowed by the 8582:

For QBI loss carryovers that are still limited by passive activity limitations: 

  1. Open the business activity screen that is associated with the QBI Loss:
    • For Partnership K-1s: From the Input Return tab, go to Income Passthrough K-1's Partnership Info then click on the QBI tab along the top of the screen.
    • For S-Corporation K-1s: From the Input Return tab, go to Income Passthrough K-1's S-Corp Info then click on the QBI tab along the top of the screen.
    • For Estate and Trust K-1s: From the Input Return tab, go to Income Passthrough K-1's Estate or Trust Info then click on the Passive Carryovers tab along the top of the screen.
    • For Rental and Royalty Income: From the Input Return tab, go to Income Rental and Royalty Income, then click on the Passive Losses tab along the top of the screen.
    • For Farm Income: From the Input Return tab, go to Income Farm Income, then click on the Passive Losses tab along the top of the screen.
  2. Below, you will find either:
    • The section Prior Unallowed Qualified Business Income Deductions for Partnership and S-Corporation K-1s.
    • The section Prior Year Unallowed Passive Losses for Estate and Trust K-1s, Rental and Royalty Income, and Farm Income.
  3. Enter the carryover amounts in the correct field:
    • For Partnership K-1s: ​2022​ QBI operating
    • For S-Corporation K-1s: 2022 QBI operating
    • For Estate and Trust K-1s: 2022 QBI unallowed passive loss
    • For Rental and Royalty Income: 2022 QBI Operating
    • For Farm Income: 2022 QBI Operating

For non-passive QBI carryovers and QBI losses that are no longer limited by passive activity limitation:

  1. From the Input Return tab, go to Income Net Operating Loss Federal Net Operating Loss.
  2. Select the Cur. Yr NOL/Misc. button in the top right corner of the screen.
  3. Scroll down to find the Qualified Business Loss Carryovers section.
  4. Enter the carryover amounts in Qualified business loss carryover.

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