DavidS127
Expert Alumni

Retirement tax questions

TurboTax is asking you the check the number for the loss your QBI business incurred in 2018. If you need the number, it should be on some sort of carryover worksheet from your 2018 return. If you used TurboTax in 2018, it will be on the 2018 Federal Carryover Worksheet, in a section entitled "Qualified Business Income Deduction (Section 199A) Carryovers.  

 

If you aren't able to "clear" the error by providing the 2018 carryover amount, please provide more details about the issue you are having.

 

This is a new thing in 2019, because the QBI deduction just started in 2018.  Now, for the first time, QBI losses from the previous year (2018) are being used to offset QBI income in the current tax year (2019).

 

When you have a business that qualifies for the Qualified Business Income (QBI) deduction, your deduction is based on the income of the "QBI business".  No QBI business income, no deduction.  And, if you have a loss on your QBI business, that loss gets tracked and "carried forward" to be offset against next year's QBI business income when calculating that next year's QBI deduction.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"