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Question

8995 Carryforward

Forum|Forum|1 year ago
February 4, 2025
1 reply
0 views

I have a $14k loss carried forward on my 2022 taxes through turbo tax. Last year i tried a CPA for my taxes and there's no record on my 2023 taxes of the carryforward. Where can i document this loss on my 2024 taxes in turbo tax?

Employee

It depends. You will need to find the amount of QBI loss carried forward from last year before you can enter this in TurboTax. You should find this on Form 8995 Line 16 in your prior year return. Contact the prior year preparer and ask for this form if it's missing from your return.

Once you know the amount you need to enter, follow these instructions; How do I report a business loss or carryover?

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