QBI loss carry over- single rental home

[kmalone598]

I'm still confused- where exactly do I get the QBI loss carry overs? I believe it was initially showing an ~9k loss but then asked for 2019/2020 carry over losses. 2020 QBI Deduction Summary line 2 states -6106 with -11298 from previous year (0 from 2018). I entered those figures and adjusted total- but Smart Check states QBI passive loss c/f should not have a value when no previously disallowed losses are present for regular tax purposes.  Please be specific as to what lines from 2019/2020 tax forms/worksheets- I should be transferring numbers.

[Mike9241]

a little complicated.  for regular income tax purposes, you can take up to $25,000 in passive real estate losses if your adjusted gross income is less than $150K

 form 8582 part II

however, for QBI that loss is not allowed it is carried forward.

so if you were to dispose of that activity without having a QBI profit, the loss just goes poof. thqbi started in 2018 so there would be no QBI loss carryforwards from prior to 2018.

should you have QBI income even if from a different source that QBI loss will be used to offset the QNBI income

[kmalone598]

I basically understand all of that but.....Please be specific as to what lines from 2019/2020 tax forms/worksheets- I should be transferring numbers.

[ErnieS0]

On the screen 2020 Qualified Business Income Loss Carryovers, enter the amount from 2020 Form 8995, line 16 in the box Qualified business loss carryforward.

This is the amount to be carried forward to the next year. This amount will offset QBI in later tax years regardless of whether the trade(s) or business(es) that generated the loss is still in existence. This carryforward doesn’t affect the deductibility of any loss for purposes of any other provisions of the Code.

Instructions for Form 8995 (2021)