I have $34,789 in QB Loss Carryforward with a postive profit for my business of $5,275 + taxable income of $34,395 and a tax liability of $5,041 resulting in a balance due of $2,069.
Question: How can I use my QBLCarryforward to reduce my tax liabity?
Question: Do I wipe out the taxable income or tax liability amount on Schedule 1 line z?
Question: How do I reduce my QBLCarryfoward from the amount on Schedule 1 line z?
Thank you!
