Yes, if the business loss results in a net operating loss on Form 1040 Line 15, you can choose to carry this loss forward to future returns. TurboTax does this automatically for you on a Carryover Worksheet.
You can read more about NOL carryovers in TurboTax by using the Search function (at the top right corner of the header) for "NOL" and clicking on the "jump to nol" link. The blue "Learn More" link on the NOL page provides extensive information on calculating NOL carryovers and how they may be used in TurboTax.
Per IRS FAQs on Section 199A, the qualified income must be effectively connected with a U.S. trade or business.
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