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Business Deductions and Form 8995
Looking back at my 2020 tax return which was completed by a CPA, my 8895 form states that I have a carryover of a loss on line 16, but on line 17 there's a zero. Is this a deduction I can use this year, and if so, can I use it toward regular income, since I don't have any business income, due to the pandemic? I would like to use Turbo Tax this year, but need to understand what is going on with this first.
‎January 26, 2022
9:09 AM