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Investors & landlords
1) by definition UC you received is not businss income and thus not in the QBI calculation. neither i the stndard deduction. your QBI loss c/o is solely from the rental loss
2) the passive loss was allowed and now instead of being a PAL carryover it's a net operationg loss carryover. since Turbotax does not calculate NOLs you'll have to ente this manually when you do your 2023 return.
3) passive does not apply to QBI. the 2022 QBI loss from the rental would be used in 2023 to offset QBI income
say from schedule C, S-corp, partnership.farm or even business income passthrough from a trust
May 13, 2023
9:56 AM