My Qualified business net loss carryforward from the prior year does not show up in my 8995. In TurboTax 2022 I entered my single-member LLC qualified business loss carryforward from 2021 under “less common business situations” “net operating loss/QBI carryforward loss.” I entered the dollar figure of 2021 net operating loss amount in the 2022 return where it says “NOL carryover you previously entered from your 2021 return in the box,” specifically, “net operating loss carryover. I did not enter anything in the box “AMT net operating loss carryover.”
I found the figure I entered from my 2021 8995 lines 3 and 16 from the 2021 (prior year) return.
BTW the figure does appear on the 2022 1040, schedule 1, “Additional income and adjustments to income” line 8a “net operating loss.”
I’ve done this operation the past two years using TurboTax and there was no problem. I’ve searched the whole return in TurboTax “preview” mode, several times and can’t explain why the figure is not showing on this year’s return. There’s an empty bracket ( ) or zero where the carryforward should be. If I leave it this way, I assume I won’t be able to use the loss carryforward next year.
BTW I have checked that I’m active in the business, have no use of a home office deduction, and have not checked at risk income or similar boxes. I should add that this business had no income or expenses, basically, it has the loss carryover from the prior year.
Any help is much appreciated, thank you.
