Are you reporting Qualified Business Income Loss Carryover from a previous year?
Qualified Business Income Loss Carryover carries forward to the succeeding year and is treated as arising from a separate trade or business. Those losses carry over indefinitely until completely offset by positive QBI.
In TurboTax Online, view Qualified Business Income Loss Carryovers by following these steps.
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Wages & Income.
- Scroll down to Other Business Situations, click Show More to the right.
- Click Start / Revisit to the right of Net Operating Loss / QBI Carryforward Loss.
- Follow the screens to view the Qualified Business Income Loss Carryover.
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