Knowledge Base Solution - How do I enter Qualified Business Income (QBI) carryovers in a 1040 return using CCH® ProSystem fx® Tax and CCH Axcess™ Tax? (2024)

• CCH ProSystem fx Tax
• CCH Axcess Tax
• 1040
• Worksheet
• Interview

For prior year Qualified Business Income (QBI) loss carryover offsetting current year QBI, use the following input:

• Enter on Deductions > Qualified Business Income (Sec 199A) > Total Overrides and Other Information > Qualified business net loss carryover from prior years (Form QBI-1,Box 138).

This will be used as a total of all overrides from multiple years.

For QBI carryover to the succeeding year return, use the following input:

• Enter on Income > Schedule E pg., 2 . . . > Qualified Business Income Carryover Information (Form QBI 3, Boxes 170 – 259).

Input for 2017 Qualified Business Income (QBI) Carryover does not print on Form 8995 or 8995-A, Schedule C in a 1040 return using interview or worksheet view.