I have Schedule C loss carryforward from previous year but it is not being applied to current year Schedule C income to lower my tax liability. Is there a certain box that needs to be checked off or a specific way/method it needs to be done?
That is a very good answer. I did not know that Proseries basic does not do that automatically.
It is on Schedule C (Form 8995-A) Loss Netting and Carry Forward. Can you please help me a little bit more by letting me know on which schedule and which box to enter the figure?
Really appreciate your answer.
" Schedule C (Form 8995-A) Loss Netting and Carry Forward"
That sounds like a QBI carryover, not an NOL.
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