Thanks. So a QBI loss carry forward looks to be what I have. It's to be used to offset the same business income year after year and nothing else?
How does it work if a current year has a loss too? For example:
A Business has $5K of income but $10K of losses in a current year. Can the QBI carryforward cover the income, leaving the additional/new/current years loss of 10K to offset the ordinary w2 income?
With no carryover involved, a current years loss will offset W2 income all the time. But I'm trying to see how it applies with a carryover and how to maximize an accurate refund from withholdings. I'm convinced the carryover was never used for 2023 and it only grew. 2024 the business had no income. I was sick but better for 2025 🙂
