Where do I enter a Qualified Business Loss carryov...
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jkkesler3110
New Member

Where do I enter a Qualified Business Loss carryover on my 2020 tax form for a business closed in 2019?

I only have W-2 income in 2020.
2 Replies
MaryK1101
Expert Alumni

Where do I enter a Qualified Business Loss carryover on my 2020 tax form for a business closed in 2019?

If you are not taking the Qualified Business Income deduction in 2020 because you closed the business in 2019, you do not have to enter it on your tax return.  The QBI loss carryover would only be applied if you had positive 2020 QBI that needed adjustment.

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jkkesler3110
New Member

Where do I enter a Qualified Business Loss carryover on my 2020 tax form for a business closed in 2019?

Thank you

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