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kh77777
Returning Member

QBI suspended loss carry forward on 2020 1041

I have a 2019 QBI loss carryover from a  prior year K1. When I enter it in the K1 Section A line 1(b) "Prior year suspended loss carryover from Prior year", everything seems to flow to the 1041 properly. However, TurboTax (Business, desktop version) is forcing me to enter the exact same number for both "before 2018 operating loss" AND the 2018 "operating loss" boxes on the "QBI Passive Loss Information" worksheet. These are not correct -- the only loss carryover of that type I had was in 2019. 

Is this a bug? Am I doing something wrong?

 

Thanks!

2 Replies
tagteam
Level 15

QBI suspended loss carry forward on 2020 1041

You might want to contact TurboTax Phone Support for this issue.

 

What is the TurboTax phone number? (intuit.com)

 

However, you might also be able to change the figures in Forms Mode on the K-1 in your forms list (i.e., transfer the loss from 2018 to 2019).

kh77777
Returning Member

QBI suspended loss carry forward on 2020 1041

Thanks

 

1) Unfortunately the forms are locked except for forcing me to put the numbers in the wrong years.

 

2) I don't call customer support hotlines (too expensive from the country I'm in).

 

Oh well. The IRS will have to deal with the number in the wrong year. After all it all carries over to this year the same. 🙂

 

 

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