Taking a closer look at the return you provided through your token number, it appears that you overcame the error message by entering the same amount of loss under the Schedule C Regular Tax suspended loss box as well as the QBI suspended loss box. If that is what is shown on your 2021 carryover worksheet, then you are in good shape. The impact on your return as you mentioned above is due to the entry that you made under the regular tax suspended loss box.
However, if your carryover QBI loss was not an 'at risk' loss then it needs to be entered in a different section of your return where QBI carryover losses are entered.
Use these steps:
- On the top row of the TurboTax screen, click on Search
- This opens a box where you can type in “qbi loss carryover” (be sure to enter exactly as shown here)
- The search results will give you an option to “Jump to qbi loss carryover”
- Click on the blue “Jump to qbi loss carryover” link
This will take you to a screen asking about 2021 Net Operating Loss carryovers where you can just click Continue. The next screen is where you will enter your 2021 QBI carryover amount. This will then be reported as part of Form 8995 and will be taken into account against any QBI income or added to any 2022 QBI losses that are carried into 2023.
@BCer50
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