MH74
Level 1

Hi Everyone - I have a client that has Qualified Business Losses carried forward from a Final Schedule C business in 2019.  There was no QBI from any other businesses in 2020.  My understanding is that the QB Losses carry forward indefinitely.  I know where to enter the QB Loss carried forward under NOL -> Fed NOL -> Cur.Yr NOL/Misc. -> Qualified business loss carryover.  However, when I enter the information here, Form 8995 does not generate and neither does the loss show up as a carryover to 2021 under the General Information page.  If I continue to report the closed Schedule C with no activity to get the Form 8995 to print, then I get a Critical Diagnostic that there is no activity and it should not be included with the return.

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George4Tacks
Level 15

I believe that the QBI loss carryforward is reported on 8995-A Schedule C which would have to be a PDF attachment. 


Here's wishing you many Happy Returns

View solution in original post

TaxGuyBill
Level 15

Intuit likes to delete required forms. I don't know about PTO, but ProSeries also deletes the required 8582 to carry forward passive losses if you don't have the rental (or other passive activity) in place for the year.

MH74
Level 1

That helps - thanks!

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