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New Member
posted Apr 6, 2025 10:52:18 AM

I did no work on my LLC in 2024 , I was hoping to enter 0 for income and deductions. Turbo tax is pulling previous years data to calculate QBI , how can i prevent it

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1 Replies
Expert Alumni
Apr 6, 2025 11:09:27 AM

If you had prior year QBI losses, they must be pulled forward for future QBI deductions.  

 

As the IRS states: “Any negative QBI carried into the subsequent tax year as a qualified business net loss carryforward will be used in that subsequent year to determine the net qualified business income or loss in that year. If the net loss carryforward from the originating year is not fully absorbed in the subsequent year, the new net loss amount will become a qualified business net loss carryforward to be applied in the subsequent year.”