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QBLoss Carryforward
I had a QBLoss from 2021 which I had intended to bring forward eventually to 2023. I have now discovered that this loss was instead realized in 2021 on line 8 of form 1040 by reducing that year's Taxable Income. Not a huge deal due to the size of the loss. However, I'm finding the identical situation now occurring for 2022 and for another loss which I need to carryforward from 2022 to 2023; this loss is more sizeable and needs to be moved forward to 2023. I'm basically not understanding why TT is not carrying forward a QBLoss but instead taking the current loss to reduce a current year's Income?
‎April 5, 2023
3:25 PM