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Get your taxes done using TurboTax
The Qualified Business Loss Carryforward can be viewed on the Qualified Business Income Deduction Summary, line 3.
It is deducted from the current year's total. So, if your have
QBI entity A $50,000
QBI entity B $10,000
Total $60,000
less carryfwd -18,000
$48,000
What makes it more complicated is that QBI A and QBI B can each be limited by the wage / UBIA computations.
The AGI that you are reporting may further limit the calculations.
The Qualified Business Income Deduction Summary is a good explanation of how the deduction is computed.
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March 31, 2021
1:07 PM