Where do I enter last year's QBI loss carryover (Line 3, Form 8995) into 2020 Turbo Tax online?

Click this link for detailed info on How to Enter QBI Loss Carryover. 

This info is not correct for this year.  I have the same problem.  TT neglected to include the loss carryforward option in that section.

@muco39

In TurboTax Online Self-Employed, follow these steps. 

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Income & expenses.
• Scroll down to Other Business Situations.
• Click Start / Revisit to the right of Net Operating Loss / QBI Carryforward Loss.
• Enter QBI Carryovers at the screen 2019 Qualified Business Income Loss Carryovers.

In TurboTax Home & Business, follow these steps:

• Across the top of the screen, click on Business.
• Click Continue.
• Click on I'll choose what I want to work on.
• Scroll down to Less Common Business Situations.
• Click Start / Update to the right of Net Operating Loss / QBI Carryforward Loss.

199-A negative overall QBI amount carries forward to the succeeding year and is treated as arising from a separate trade or business. Those losses carry over indefinitely until completely offset by positive QBI.

Thank you James.

When I enter the QBI amount from 2019 it shows up in additional income form schedule 1.  Is that where it is supposed to go?  If I wanted to carry it forward how do I enter it so it shows up in form 8995.  Is it up to me to show it as negative income or carryforward to next year?

Thanks again

Here is how to enter.

1. Log into Turbo Tax
2. Go to federal>wages and income>Other Business Situations>show more
3. Net Operating Loss/ QBI Carryforward Loss.>start
4. Move past the first screen and report in the second screen under. 
5. 2019 Qualified Business Income Loss Carryovers

Hello. I have the same problem. I tried entering the Qualified business loss carryforward from 2019 but it doesnt show on line 3 Form 8995

Hi, were you able to get an answer to this question? I have the same problem, I tried all the options here but I don't see the amount on line 3 form 8995. I appreciate if you can share if you were able to solve this

Thank you

@JamesG1 is this still true in 2022 when filing 2021 taxes? I'm struggling to find where to put my QBI carryforward. 

YES

In TurboTax Online Self-Employed, follow these steps. 

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Income & expenses.
• Scroll down to Other Business Situations.
• Click Start / Revisit to the right of Net Operating Loss / QBI Carryforward Loss.
• Enter QBI Carryovers at the screen 2019 Qualified Business Income Loss Carryovers.

In TurboTax Home & Business, follow these steps:

• Across the top of the screen, click on Business.
• Click Continue.
• Click on I'll choose what I want to work on.
• Scroll down to Less Common Business Situations.
• Click Start / Update to the right of Net Operating Loss / QBI Carryforward Loss.

Where does it go in Turbo Tax premier? I recall entering  it last year April and yet now I see that it is not shown on line 3 on my completed return and my taxes have already been submitted to the IRS though they have not completed processing it. 

@Llys8 You enter last years QBI loss in Turbo Tax Premier in the Wages and Income section, then Business Items, then Business deductions and credits, then Net Operating Loss, then on the second screen you will see 2020 Qualified Business Income Loss Carryovers.

Hi

1 -  Is there a reason why my 2020 from 8995 line 16 did not carry over to 2021 8995 line 3? 

2-  So I followed the instructions for TB premier and the loss reported on 1040 line 8.  Is this correct?  This creates a total current year loss plus the carryover which does not look right. 

Thanks

Cynthia 

I figured it out!  I entered the carryover in NOL which was incorrect and needed to go one step further to QBI loss carryover.  

So anyone know why TB 2021 did not bring over the TB 2020 QBI loss?  

Done.  

cynthia

There is a known issue being investigated now in regards to the QBI losses not staying populated and defaulting to 2018 regardless of the year you enter them for.  I will post with an update as soon as I have one.

@cynthia29

There will be an update to TurboTax on April 8, 2022, that will resolve this issue.  If you are using one of the desktop versions you will need to install updates before you proceed.

@cynthia29

Has the error been corrected?  I don't think so based on what I'm seeing on my return.

Hi Alicia,

I still can't find where to add the following:

Qualified business net (loss) carryforward from the prior year (Line 3 from 8995).

Whenever I try to add it to one of the options in "Uncommon Situations" it gives me an error at the end.

I'm using TurboTax premium. Is there a fix to this?

Thanks for your help! @AliciaP1 

Can you clarify if you're using TurboTax Premium Online or CD/Download?  Also, what is the error you are getting?

@BCer50 

Sure thing! I am using TurboTax premium online.

I tried following the instructions here but the only thing I see when I scroll to the bottom of "Wages & Income" is "Uncommon Situations."

Here, I only have 5 options which include these:

I don't find the QBI loss carryover as the other posts suggest I might find.

@AliciaP1 

You need to mark the I have at-risk losses carrying over from 2021.  This box will let you enter any NOLs and QBI losses you may have carried over from prior years that were reported on your 2021 returns.

@BCer50 

This is where I input the numbers the first time but it gives me this error when I try to file at the end:

It won't let me file unless I set this number to 0, which should not be the case.

@AliciaP1 

You have suspended loss marked rather than QBI loss carryover. Please return to your schedule C business and follow these steps:

1. Edit your business
2. Select Special Situation
3. Select I have at risk losses carrying from 2021, continue
4. Enter your QBI carryover loss as a negative number under QBI, continue
5. Enter the amount of QBI loss carryover for each year to add to the total. If your only loss was 2021, then total and 2021 would have the same amount.

@BCer50 

Hi Amy,

Thank you so much for your help. These are the exact steps I tried when filling out all of my information and I am still receiving the same error I attached above when trying to file.

@AmyC 

It would be helpful to have a TurboTax ".tax2022" file that is experiencing this issue.

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

Go to the black panel on the left side of your program and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
5. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@BCer50