What do I do with a 2024 "tax return carryover to 2025" "qualified business loss" from form 8995 of $7086. What do I do with this for my 2025?

[ThomasM125 · Accepted solution]

If you did your 2024 tax return using TurboTax, the Qualified Business Income (QBI) loss carryover will automatically be populated on your 2025 return, so you won't need to do anything special regarding it. If not, then you will need to enter it when you enter any QBI income or loss on your 2025 return, in the section where you enter the QBI income.

QBI income can come from sources such as self-employment income, rental income or a schedule K-1 entry. When you enter any one of those forms, you will see an option to enter your QBI carryover loss from the previous year. If you can clarify the source of your QBI income, we can be more specific regarding where to enter your loss carryover.