Qualified Business Losses Carryforward - Can I force Form 8995 to print in ProConnect?

Forum|Forum|5 years ago
May 5, 2021
2 replies
21 views

Hi Everyone - I have a client that has Qualified Business Losses carried forward from a Final Schedule C business in 2019. There was no QBI from any other businesses in 2020. My understanding is that the QB Losses carry forward indefinitely. I know where to enter the QB Loss carried forward under NOL -> Fed NOL -> Cur.Yr NOL/Misc. -> Qualified business loss carryover. However, when I enter the information here, Form 8995 does not generate and neither does the loss show up as a carryover to 2021 under the General Information page. If I continue to report the closed Schedule C with no activity to get the Form 8995 to print, then I get a Critical Diagnostic that there is no activity and it should not be included with the return.

ProConnect Tax

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Best answer by George4Tacks

I believe that the QBI loss carryforward is reported on 8995-A Schedule C which would have to be a PDF attachment.

George4TacksAnswer

Level 15

I believe that the QBI loss carryforward is reported on 8995-A Schedule C which would have to be a PDF attachment.

Answers are easy. Questions are hard!

M

MH74Author

Level 2

That helps - thanks!

T

TaxGuyBill

Level 15

Intuit likes to delete required forms. I don't know about PTO, but ProSeries also deletes the required 8582 to carry forward passive losses if you don't have the rental (or other passive activity) in place for the year.

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