Where do I enter last year's QBI loss carryover (Line 3, Form 8995) into 2019 turbo tax? I have called turbotax 9x and everyone seems confused on QBI Carryover.

[MaryK4 · Accepted solution]

Under Federal Taxes- Wages & Income look for Other Business Situations, Net Operating Loss/ QBI Carryforward Loss.  See Below.

[ripple]

Does anyone know how to get this QBI screen to pop back up? I have a NOL carryforward and a QBI carryforward. When going through this sections the first time, I populated both. Later I wanted to see what the impact on my taxes were so I went back and set them to zero to see the tax change. Now when I go back and revisit that section, it lets me enter the NOL but when I hit continue it does not take me to the QBI screen. In the review process I'm getting an error now too because of it. I'm using it online so I'm not able to jump into the forms directly.

Thanks

[DavidS127]

The NOL and QBI carryforward loss section is at Income>>Less Common Business Situations>>Net Operating Loss/QBI Carryforward Loss.

If a screen doesn't "present" when it is supposed to, try signing out and signing back in, and/or clearing your "cookies and cache".

[muco39]

I have entered my losses from previous years at the page you mention.  However, the number is not displayed on form 8995 line 3 on 2020 tax return.  What do I need to do?

[Deb08330]

NOL input comes up, but no place to enter QBI carryforward

[ThomasM125 · Accepted solution]

@Deb08330 The QBI carryforward is used to determine your qualified business income deduction for the business that is generating it. So, you will see that question where you are entering your business income.

So, if you have self-employment income, look in that section. If you have income reported on a K-1 form for a partnership or corporation, look in the section were you enter those forms. If you are reporting rental income, look in that section for the QBI carryforward entry.

The NOL deduction is not specific to a business, so that may be why you don't see an option for the QBI deduction there.

[nato61]

Thank You so Much!  I was going round and round entering the information into the question section in the section v 199a area and when I entered the carryover loss there it would not "take". Following these instructions worked! Thank you again.

[lpliskin72]

Hi, where do I enter last year's QBI loss carryover into 2020 turbo tax Desktop Premier software as it doesn't show up and I need to correct.

Thanks

[Jdlents1954]

I keep getting an error after putting QBI carry forward relating to Schedule F

[PatriciaV]

Please clarify the text of the error you see for QBI on Schedule F. A screenshot would be helpful. Also, what version of TurboTax are you using - Online or Desktop?

@Jdlents1954