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Question

What is the difference between "Regular Tax" disallowed Section 179 deductions and "QBI" disallowed Section 179 deductions?

Forum|Forum|3 years ago
March 5, 2023
1 reply
0 views

I have Section 179 disallowed carryovers from previous years and I don't understand the Turbo Tax questions about Regular Tax and QBI deductions.

TurboTax Online

The Regular Tax column is referring to Net Operating Loss carryovers while the QBI column is specifically referencing carryovers from your QBI losses. They can be different based on the different rules for reporting. Since yours is Section 179, it is likely both Regular Tax and QBI as long as the business reporting the loss had/has QBI income.

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