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kamundson59
March 18, 2025
Question

Form 8995

  • March 18, 2025
  • 1 reply
  • 0 views

I have a carryover of a loss from 2022-2023.  Can I somehow use this loss on my taxes for 2024?  I was renting a house but I have sold the house now.

 

    1 reply

    M
    Mike9241
    March 18, 2025

    A QBI loss (the 8995) can only be used to offset QBI income. Gain on the sale is a capital gain that, by definition, is not QBI. That QBI loss carries forward indefinitely until used against QBI income or the tax laws change.

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