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Business & farm
You have answered no to "Is this activity a qualified trade or business under section 199A?" so it is not counting 2021 as Qualified Business Income nor does it allow the carryforward because of this.
To correct this entry in TurboTax Online please follow these steps:
- Within your Federal tax return, use the magnifying glass to search Schedule C
- Click the Jump to link
- On the info page scroll down to Qualified Business Income and click Details
- Review your answers to the questions on the following 3 screens
If the answers to these questions are correct as is, then your business situation has changed and no longer qualifies for the Qualified Business Income Deduction or Loss Carryforward.
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‎February 21, 2022
2:14 PM