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TMCJ
Level 2

I have the same error. QBI passive loss carry forward from 2022 to 2023 but no regular tax passive loss carry forward from 2022 to 2023. Where on my 2022 return would I find the regular tax carryover to transfer manually?

 
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Cynthiad66
Expert Alumni

I have the same error. QBI passive loss carry forward from 2022 to 2023 but no regular tax passive loss carry forward from 2022 to 2023. Where on my 2022 return would I find the regular tax carryover to transfer manually?

When you prepare your tax return with TurboTax, the software automatically tracks and carries over your QBI business losses to the next year's tax return. The QBI deduction is based on net income, so if your business had a net loss, you don't qualify for the QBI deduction for that year.

 

Net Operating Losses for 2022 can be found on Line 8a in Schedule 1 of the 2022 tax year.

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