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February 26, 2021
Question

Last year my tax preparer showed 1040 carryover report, qualified business business loss for 2020 to be 26,373. ?

  • February 26, 2021
  • 1 reply
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where do i put a carryover business loss for 2020?

1 reply

February 26, 2021

it is not a regular business loss but a special item used to compute any Qualified Business Income deduction.

there is a carryover worksheet in Turbotax and a section labled Qualified Business Income Deduction Carryover

line 29 of the worksheet. line 31 should be 100%