DianeW777
Expert Alumni

Business & farm

No, you cannot use that loss against personal income.  You can carry it forward to offset any future qualified business income (QBI) for a business or investment K-1 profit or positive qualified business income (QBI).

 

To include your QBID carryforward loss so that it is not lost you can use the steps below.

  • TurboTax CD/Download or TurboTax Online
    • Business Income and Expenses > Less Common Business Situations > Net Operating Loss/QBI Carryforward Loss
    • Under Income and Expenses > Other Business Situations > Net Operating Loss/QBI Carryforward Loss

 

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