ThomasM125
Employee Tax Expert

Self employed

No, it is not a NOL, net operating loss. A net operating loss is when you have more business losses than your other income. It has nothing to do with a qualified business income loss carryover.

 

When you enter your business income (QBI) either from self-employment income or a K-1 schedule, you will be asked to enter any QBI loss carryovers form the previous year. That is the only place you would enter a QBI loss carryover.

 

 

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