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CCH Axcess Tax

Prior Year Carryovers to Current Year

The prior year carryovers are separated by year, by form and by entity/activity number. The carryover is added to any current year calculation for that form and entity/activity. Any allowed amount (taking older carryovers first) is then separated back out and carried to the qualified business net loss carryforward from the prior year line of the Form 8995 or Form 8995-A Schedule C if the carryover is for 2018 or later.

Any Pre-TCJA losses not to be accounted for on the 8995/8995-A are entered with a 2017 year in the Year of Loss column. These losses will NOT carry to the 8995 or 8995-A. Until these losses are exhausted, 2018 and beyond losses will not be offset. These Pre-TCJA losses are tracked on the QBI carryover report.