Question

I entered a QBI carryforward loss from 2023, but after going through my returns, TurboTax did not include it, nor do I see a form 8995. What do I need to do?

Forum|Forum|1 year ago
April 7, 2025
1 reply
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I have confirmed several times that the value I entered is saved in the "other business situations" section, within the NOL/QBI carryforward loss section.

J

JamesG1

Did the 2023 income tax return include a Qualified Business Income Deduction on line 13 of the 1040 income tax return?

If your 2023 1040 income tax return:

did not report a Qualified Business Income Deduction,
did not include an IRS form 8995 or 8995-A, and
did not include the QBI carryforward loss,

you may consider amending the 2023 1040 income tax return.

After the QBI carryforward loss has been computed, the QBI carryforward loss may be added to the 2024 1040 income tax return.

If your return has been transmitted and accepted by the IRS, you may amend your Federal 1040 tax return.

If you used TurboTax Online, log in to your account and select Amend a return that was filed and accepted.

If you used the CD/download product, sign back into your return and select Amend a filed return.

See also this TurboTax Help.

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A

aidan3Author

Thanks for the reply. To answer your question, yes I did have the QBI reported, was included and filed with form 8995, and did include the QBI all from 2023. That is just regarding my 2023 taxes though. Now that I am prepared to file for 2024, I have entered in the QBI carryforward in turbotax, but upon review of the actual tax documents, this carryforward loss is not included on the generated forms, nor is there a form 8995 included. Is there something I can check in TurboTax to see why this is not being included?