Sorry, this is very confusing for me. What exactly are Regular Tax Losses and why in your example would they be different? I do have other income other than the farm losses which is greater than the farm losses. Would that eliminate any Regular Tax Losses? QBI Losses would come from which line? We do have a farm store that is reported on Schedule C but is an aggregated business to the farm and offsets some of the farm losses but not all. Do I just report the farm losses on the QBI Farm Loss line or the combo of the two since they are aggregated businesses?
Since my total income cancels out farm losses am I required to file any extra forms or waivers ? I read a question from last year and saw something about a carryback waiver.
