QBI

[brodie1420]

when I do the "smart check" I am getting a request to manually enter QBI losses for prior year.  How do I find these numbers?  not sure why Turbotax does not auto-populate this.  I have been using turbo tax for many years.

[AliciaP1]

You can find the QBI loss carryforward on Form 8995-A Schedule C.  To enter your loss carryforward in TurboTax Online you can follow these steps:

1. Within your Federal return, click Income & Expenses at the top of the screen
2. Scroll down to Other Business Situations and click Show more
3. Click Start on the Net Operating Loss/QBI Carryforward Loss line
4. Click Continue on the Net Operating Loss screen
5. Enter your QBI Loss Carryforward as a positive number

[brodie1420]

Thanks.  I cannot find the income and expenses on top of screen.  to clarify, I downloaded premier but i am not using the online version (I think).

should I go directly to form 8995 for the prior years? (2019 and 2020)

[AliciaP1]

Yes, if you downloaded Premier you are using TurboTax Premier Desktop (I had posted for Online because that was your product tag in your original post). 

The information for your carryforward for 2021 will be reflected on your 2020 return.  You do not need to reference your 2019 return as that amount rolled into 2020 and is represented as a net number on your 2020 return.