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Business & farm
On schedule E, line 22 would be the passive loss allowable for the current year, so it wouldn't be the carryover loss for the next year. The carryover loss would be the total of losses for all of the years less the losses that were deducted.
For the loss carryovers, normally you would enter the same amount for each entry, Regular Tax Carryover, AMT Carryover and QBI Carryover, unless you knew otherwise.
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‎February 23, 2021
5:21 PM