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Investors & landlords
If you were able to use your Rental Loss last year to offset other income, you are correct that you wouldn't have a Carryover to enter in your 2021 return.
From your 2020 Form 8582, Line 3d would show any unallowed loss from last year. Since Line 16 has an amount, you were allowed to take your loss last year, so don't worry about entering any rental loss carryover amounts or any QBI carryover amounts in TurboTax.
The QBI loss carryover would only be applied if you had positive 2020 QBI that needed adjustment, and since you did not, no entry is needed.
You should see this on Schedule 1, Line 5 for 2020.
Click this link for more info on the Qualified Business Income (QBI) Deduction.
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March 8, 2022
2:53 PM
12,214 Views