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Current Year loss from 1065-K1 is now QBI Loss (suspended). How do I treat the accumulated unallowed losses?

pfield
Level 1

The accumulated unallowed losses are $210,515 from passive rental activities (line 2 on K1 from partnership). The current year K1 has net rental loss of $25,344 and Box 20Z attributes this current year loss as a QBI loss. The QBI loss for current year is suspended due to income limitss. Does the prior year unallowed losses continue to carryover as a separate item or since the current year loss is now a QBI loss, is it all one giant QBI loss that carries over?


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PhoebeRoberts
Level 11
Level 11

Pre-2018 year losses are not QBI.

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1 Comment 1
PhoebeRoberts
Level 11
Level 11

Pre-2018 year losses are not QBI.

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