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ntram2004
Returning Member

NOl and QBI

Yes, it shows a loss on line 8 on page 1. So, do I input that loss in NOL carryover this year?

HopeS
Expert Alumni

NOl and QBI

No, if it is on line 8 this means the NOL was used to offset your other taxable income. Other income includes wages, interest, dividends, etc.

Please look at your return to see if you had any remaining loss carryover.  This would show up in the worksheets printed with your return. If all the loss was used in 2021, then there is no carryover.

 

@ntram2004 

 

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ntram2004
Returning Member

NOl and QBI

loss from line 8 did not offset all the other income. As the result, I have a -$1k AGI for 2021. Use that negative AGI as NOL carryover for this year?

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