DavidS127
Expert Alumni

Get your taxes done using TurboTax

Your Form 8995 Line 3 is tracking a loss on your Schedule C from 2018, to offset against any 2019 Schedule C income, as a part of your QBI deduction calculation.  You should be able to correlate this Line 3 number with losses (from your Schedule C and any other QBI income) in 2018.  

 

Your Schedule C makes you eligible for the Qualified Business Income (QBI) deduction, which allows certain small businesses to deduct 20% of net income.  But, to calculate the deduction, losses from the prior year are used to offset any current year income

 

 

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