Lacerte will automatically calculate and carryforward any unallowed QBI amounts to the following year, however, if you are entering a new return you may need to enter the carryover from the prior year.
Where you enter this depends on if it is a passive QBI carryover or if has already been allowed by the 8582:
For QBI loss carryovers that are still limited by passive activity limitations:
- Open the business activity screen that is associated with the QBI Loss:
- Screen 20.1 for Partnership K-1s
- Screen 20.2 for S Corporation K-1s
- Screen 20.3 for Estate and Trust K-1s
- Screen 18 for Rental and Royalty Income
- Screen 19 for Farm Income
- From the Sections on the left choose Prior Year Unallowed Passive Losses.
- Enter the carryover amounts in the correct field:
- For Screen 20: 2021 QBI unallowed passive loss
- For Screen 19: 2021 QBI Operating
- For Screen 18: 2021 QBI Operating
- For Screen 16: 2021 QBI Operating
For non-passive QBI carryovers and QBI losses that are no longer limited by passive activity limitation:
- Go to Screen 15, Net Operating Loss Deduction.
- Click on the Current Year NOL button.
- From the Sections on the left choose Qualified Business Loss Carryovers.
- Enter the carryover amounts in Qualified business loss carryover.