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April 18, 2023
Question

What is a QBI Passive Op Loss? How do I know if I have one?

  • April 18, 2023
  • 1 reply
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My return is asking for a Schedule C (Bookkeeping) QBI Passive Op Loss to be entered. I have no idea what that is or how to determine it.

1 reply

AliciaP1
April 18, 2023

If you have had QBI losses (business losses from QBI deductible income) in the past, it will carry over until you are reporting net income instead of loss.  The amount is used in determining your total QBI for the QBI deduction.  You can find the amount of any loss carryover from line 16 or 17 of Form 8995 in your 2021 tax return.

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