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kamundson59
Level 1
Mar 18, 2025 9:25 PM UTC
Question

Form 8995

I have a carryover of a loss from 2022-2023.  Can I somehow use this loss on my taxes for 2024?  I was renting a house but I have sold the house now.

 

    1 reply

    Mike9241
    Level 15
    Mike9241Level 15
    Level 15
    Mar 18, 2025 9:32 PM UTC

    A QBI loss (the 8995) can only be used to offset QBI income. Gain on the sale is a capital gain that, by definition, is not QBI. That QBI loss carries forward indefinitely until used against QBI income or the tax laws change.

    Mike9241
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