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QBI Passive Op Loss limitation
TT won't let me proceed with filing because it keeps coming up with an error message saying my "QBI Passive Op Loss on one of my K-1s should not be greater than the total loss". The number it is citing as the total loss is actually last year's ordinary business loss (which is carried forward). So it is comparing my current year's Ordinary business loss to last year's ordinary business loss. This year's loss is greater than last year's loss, but I'm not sure why it is considering last year's loss as the "total loss" nor do I understand why I can't file if this year's loss is greater than last year's loss. I'm not sure where to go from here.
‎October 9, 2024
11:07 AM