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July 17, 2022
Question

How to calculate "Qualified business net (loss) carryforward from the prior year" on form 8995?

  • July 17, 2022
  • 1 reply
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The number of line 3 on form 8995 this year is not the same as the number of line 16 on form 8995 last year

1 reply

Employee
July 17, 2022

Have you read through the Form 8995 instructions? 

 

https://www.irs.gov/instructions/i8995#en_US_2021_publink100051907

July 19, 2022

yes, I have read  the Form 8995 instructions. The number of line 3 (Qualified business net (loss) carryforward from the prior year) on the form 8995 of my 2021 TurboTax is not the same as the number of line 16 (Total qualified business (loss) carryforward) on the form 8995 of my 2020 TurboTax. I'd like to know why they are different and how to calculate the number. Thanks!