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J
jentennis
February 24, 2024
Question

How do i remove carryover loss from taxes for closed business

  • February 24, 2024
  • 1 reply
  • 0 views
I closed my sole proprietorship business in 2020 but noticed that turbotax is still including "Qualified business net (loss) carryforward from the prior year" How can I remove this from my taxes?

1 reply

M
Mike9241
February 24, 2024

you shouldn't. under the tax laws even though the business was discontinued the QBI carryover stays with you until it's either used or you die.

 

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