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Level 1
posted May 22, 2024 3:05:32 AM

QBI Carryforward Still Calculating after I sold My Rental Property

I sold a rental property in 2021.  I had business loss carryforwards each year.  I just realized that I have been including a qualified business loss carryforward related to the sold property on my 2022 and 2023 returns.  How do I correct this for 2022 and 2023 and delete this completely from future tax returns.?

0 2 12460
2 Replies
Level 15
May 24, 2024 1:36:07 PM

You don't.

 

If your rental qualified for QBI, the losses keep carrying forward until they are offset by another business or until that law ends (as of now, 2025 is the last year, but that may change).

 

Level 1
May 28, 2024 10:49:02 AM

Thank you.  I see what you reference under section 199A.