QBI Loss Carry Over - Spidell

QBI Loss Carry Over

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Message Board QBI Loss Carry Over

This topic contains 1 reply, has 2 voices, and was last updated by Sandy Weiner 9 months, 2 weeks ago.

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  • #141477

    If there is a net QBI loss in 2018 due to a final year K1, does that loss carry forward to offset future year QBI, even though the loss was from a terminated activity?

  • #141621
    Sandy Weiner

    Yes, the loss does carry forward. The new proposed regulations, issued concurrently with the finalized regulations, state that when QBI losses are freed up in a later year to offset positive QBI, they are brought in collectively as if they were a separate trade or business. The purpose of this was to address situations such as this were a business might no longer be around, but carryover QBI losses from that business are still carrying over.

    Consider attending our 199A webinar on February 15. It has all the updated info.