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Ozk
Level 1

net operating loss/QBI carryforward loss

Do we need to answer this question if we have  nothing to report?

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3 Replies
ThomasM125
Expert Alumni

net operating loss/QBI carryforward loss

You don't need to answer the question regarding QBI or net operating loss carryforward if you don't have those, or you may need to enter $0, depending on how the question is worded. You would have a form 8995 in the previous year if you had a QBI carryforward and you would have a business loss in a prior year that was more than your ordinary income if you had a net operating loss.

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Ozk
Level 1

net operating loss/QBI carryforward loss

I did not click on it as it needed an upgrade on turbotax. Would this be ok

PatriciaV
Expert Alumni

net operating loss/QBI carryforward loss

Yes, if you are able to clear the review and proceed with your return, you are fine.

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