If you have a loss from a trade or business that you were unable to claim on your return, the amount is NOT included in your QBI for that year. Instead, the loss is treated as a Qualified Business Income net loss Carryforward.
Where do I enter my Qualified Business Income Deduction (QBID) carryover amount?
If you filed with us last year, we automatically pull the carryover amount to the current return.
If you filed elsewhere or need to make an adjustment to the QBID carryover, follow these steps:
- Federal Section
- Deductions
- Select my forms (Continue)
- Qualified Business Income Deduction
Any amount entered here will override the amount carried forward (if any).