I have been carrying forward a QBI loss from 2020 of -$218.
I've just had to prepare an amended 2022 tax return due to a never received 1099-NEC for $965 (and I had forgotten about the income), so the preparing process of the 2022 Schedule C applies that -218 to the QBI deduction calculation and thus reduces my 2022 QBI deduction, with the net result that there is no longer any carryforward QBI loss.
However, I have already filed my 2023 return which continued to show the -$218 carryforward.
Do I wait for the amended 2022 return to be processed and then file an amended 2023 return removing this carryforward loss? Or can I just show no QBI carryforward loss when I do my 2024 return.
Since I retired mid year 2022, I'm not sure I will have any Schedule C income going forward - in fact I just never filed a Schedule C in 2021, 2022, 2023 but TurboTax dutifully prepared a Form 8995 each of those years to carryforward the QBI loss of -$218. Since this carryforward loss reduces the QBI deduction, now that the loss is used, I'd like to get it off the books of the IRS computer should I have any Schedule C income down the road.
