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Where does a qualified business loss carryforward come from (form 8995 line 3)? I didn't even use TT last year and didn't put it in myself.

The form also shows my qualified dividend total on line 12 as a net capital gain.  As far as I know, neither is having a material affect on actual tax computations.
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ThomasM125
Expert Alumni

Where does a qualified business loss carryforward come from (form 8995 line 3)? I didn't even use TT last year and didn't put it in myself.

A Qualified Business Income (QBI) loss comes from a loss from ownership in a business. It could be from self-emploment income or ownership in a partnership or S corporation. When you add a k-1 schedule or self-employment income in TurboTax, you will see an option to add your QBI loss carryforward from the previous year.

 

A qualified dividend is something else, that is a type of dividend paid from a corporation that gets favorable capital gain treatment.

 

 

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