How do you populate the "QBI wksht for previously disallowed losses, if present" on the QBI Deduction Smart Worksheet? What value is it looking for, nothing seems to work

[verycrappysoftware]

Same problem here!. Any updates on when  this is going to be fixed?

[jayson4]

Has this been resolved for 2023?  I can't seem to get past that step.

[AliciaP1]

It should be resolved.  You need to enter the information in the QBI process rather than the review process though.

To get to the QBI questions in TurboTax Online you can follow these steps:

1. Open or continue your return in TurboTax
2. Click Wages & Income and scroll down to Other Business Situations
3. Click Start for Net Operating Loss/QBI Carryforward Loss and enter your carryforward information here

@jayson4 

[Colin14]

This is present in the software for 2022 as well. Just updated today (3/18/23) and have the same problem. When will this be fixed?

I can double click on the missing entry field for the QBI statement on Schedule E, the list of statements os correctly presented. I can select the correct one, I have Unlink, Cancel or Open as options. If I select Open it just opens the statement itself, highlight the name of the statement. Can copy that text, but cannot enter into the Schedule E form field, nor the Smart check error prompt.

Frustrated that this bug is present again. Do I need to create a new bug report?

[Jerpen007]

This doesn't solve the issue because the Previously disallowed losses free up is already added, assuming you did your taxes with Turbo Tax the previous year. If you add this in again you are claiming your losses twice. I'm stuck on this step for my 2022 taxes. 

Update; I solved my specific issue. In prior years I claimed the QBI and had remaining disallowed losses from one of my properties that was brough forward to this year. For some reason this year I had selected that I didn't qualify for QBI, but the disallowed loss was still connected to the property. I correctly claimed the QBI and only then the issue was resolved. 

[AliciaP1]

You need to follow the prompts in the interview process to enter the QBI information associated with your K-1.  As I previously posted:

You need to enter the information in the QBI process rather than the review process though.

To get to the QBI questions in TurboTax Online you can follow these steps:

1. Open or continue your return in TurboTax
2. Click Wages & Income and scroll down to Other Business Situations
3. Click Start for Net Operating Loss/QBI Carryforward Loss and enter your carryforward information here

@Colin14 

@Jerpen007 

[KatI551]

How does this work for Schedule C? ( I checked no for QBI in worksheet already.)

[BrittanyS]

The qualified business income deduction can be used with the Schedule C as well.  The deduction is worth up to 20% of your taxable business income.  The starting point for the QBI calculation for a Schedule C filer is the net profit or loss reported on line 31, however that amount will be reduced by the following: Deductible part of self-employment tax – A taxpayer pays self-employment tax on the net income of all self-employment activity

For more information on QBI, see the link below:

What is the QBI deduction?

@KatI551 

[KatI551]

My question relates to the workaround to resolve the bug in the system that is referred to in earlier posts on this thread.  There is a step-by-step solution in the K-1 context, and I am looking for the equivalent solution in the Schedule E context.

[PatriciaV]

For Schedule E, the question about passive real estate losses appears under the Rental Property Profile under the Carryovers topic. If you check the box for passive losses for a prior year, TurboTax will prompt you to enter these losses on a subsequent page. You can enter regular, ATM, and QBI carryovers on this page.

Generally, if SmartCheck encounters a conflict in your entries, the related form will pop-up in a sub-form window where you can edit the entries as needed.

@KatI551 

[fraz2002]

FYI - This still doesn't work. Not sure what Intuit is doing here but after filing with them for quite a few years I had to move to a firm. 

[deltadog01]

THANK YOU! This was the answer that solved it for me.  I made the same mistake.  I didn't select QBI for one of the properties.  I went back and updated the income for the property.  

[Forsling54]

David - hope you can help me.  I have entered the info from my K-1 attachment for box 20, code z.  The partnership in which I am an investor lists two other companies from which the funds come and each has a different EIN.   I completed the info on Turbotax for the first one - no problem.  But, when I finish that, Turbotax "thinks" I am finished with this K-1 and does not let me enter the info from the second passthrough entity.  

How can I get Turbotax to take that information?   I am completing my 2022 return to file before October 15 pursuant to an extension.

[email address removed]     Would be great if you would respond directly to me so I can find it.   Thank you!

[Mike-M-]

Desktop

[gr777]

I'm having the same issue, have been on phone for 2 hours with multiple people including CPA no one seems to be able to figure it out.  

Can you kindly elaborate on what you mean by "enter your carryforward information here" ?  Where do I pull this from? Is this from the 2022 tax returns and if so where exactly and what values?  This is regarding rental income for schedule E.  Thank you