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WHERE DO WE ENTER FORM 8995 QUALIFIED BUSINESS INCOME DEDUCTION LOSS CARRYFORWARD FROM THE PRIOR YEARS

Liz
Level 2
I CAN'T FIGURE OUT WHERE TO ENTER QBI LOSS FROM PRIOR YEARS
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4 Comments 4
PhoebeRoberts
Level 11
Level 11

Screen 15, way down at the bottom, assuming the losses weren't suspended due to passive / basis / at-risk limitations in the prior year.

Screenshot 2021-03-03 091800.png

Liz
Level 2

Yes, I put it there but the whole Form 8995 is still blank.  I had to input in a fake Sch C and and then put in there under Prior Year Unallowed Passive and that finally forced Form 8995.  BTW this is for a new client that I am trying to copy their 2019 tax return to proforma to 2020 so now when I send them the organizer it's going to have a Sch C on it.  😞  Weird that Lacerte doesn't just have an overwrite for this, right?

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PhoebeRoberts
Level 11
Level 11

The carryforward for passive QBI losses not allowed is not the same thing as the carryforward for allowed QBI losses. You won't have an 8995 unless there's current-year QBI activity.

SAW
Level 1

Doesn't work!

 

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