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qbi passive op loss from prior tax returns

TT is asking for my qbi passive op loss for 2020 and 2019. I have my TT-generated tax forms. Where do I find this? Is the Schedule E, QBI (Section 199A) Losses by Year Smart Worksheet, Passover carryovers to 2021, lines G(2019) and J (2020) from my 2020 tax return? Something else?

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2 Replies
AmyC
Expert Alumni

qbi passive op loss from prior tax returns

That sounds correct but please check your 8995 forms for carryover and disallowance. Please see this IRS article on QBI. The different types of incomes are at the top and you can choose the link that suits your income.  Locate last year's return and see if you had any disallowed QBI hidden in the worksheets. For example: You may have had a K-1 and a rental property, that effectively cancelled each other out for QBI.

 

See also What is QBI? IRS newsroom

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qbi passive op loss from prior tax returns

This is the fourth, different, answer to this I have received. How do I report this crazy? This is caused by the failure of TT to read this information on my prior return even though it imported it perfectly. 

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