Form 8995 NOL Carryforward Problem

build2345 — Mon, 23 Feb 2026 13:20:12 GMT

rtretr

Re: Form 8995 NOL Carryforward Problem

Rick19744 — Sun, 05 Feb 2023 14:42:57 GMT

A few comments:

The tax law doesn't allow you to decide which year you want to take a loss.
The form 8995 is a Qualified Business Income Deduction (QBID) computation. This is not the same thing as an NOL.
You need to follow the example that the former CPA used as the carry over belongs on form 8995 line 3
Just because you reflect a loss on line 3 does not mean that you will be utilizing the loss on the current year tax return. These losses will be utilized in the years that the business generates income.
When entering the information for your business, there is most likely a question related to whether the business has any carry over loss and should then put this on the form 8995 line 3 as was done in the past.

build2345 — Mon, 06 Feb 2023 19:51:11 GMT

wretgw

build2345 — Mon, 06 Feb 2023 19:51:47 GMT

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build2345 — Mon, 06 Feb 2023 19:51:32 GMT

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