In 2021 my Schedule C Sole Proprietorship business had its main client go out of business, As such we posted a loss that year. The QBI worksheet shows a Carry forward loss. We paused the business in 2022 so there was no Schedule C prepared as we decided how to move forward. In 2023 we began operating the business again and now show a small profit. My question is, can I use the loss in 2021 as a carry forward loss to help offset the profit and tax implications in 2023?
Thanks for your help.
