I want to apply my single member LLC Qualified Business Income Loss Carryover against my W-2 income. Where on my TurboTax return would I begin to do this?

Hi. My single member LLC has a Qualified Business Income Loss Carryover from last year, 2022. The LLC in 2023 had no activity (no income or expenses); however, I have W-2 income, and I understand the IRS allows applying the carryover loss from the LCC against W-2 income.

 

My question is, where in the federal return would I begin to the process to apply the loss carryover from this LLC from last year to presumably reduce my W-2 income for 2023?

 

I have TurboTax Home & Business, the version where you purchase a key (which includes 5 returns by default). I don’t know if that’s considered the online version.

 

Thanks in advance for your help.

 

Sam