@Mike9241
Thank you for your reply! I entered the amount from last year in all three boxes as negative numbers ie.. Regular Tax Carryover, AMT Carry over, QBI carryover. Yet TT does not reduce the net income by the prior year unallowed loss.
And the strange thing is not that forms mode considers the loss while calculating net income while step mode doesn't. The thing is that my taxes owed for current tax year is considering the amount of $7000 as the rental income on the rental income summary in the business section but showed $2000 in the personal icome summary.
