My old U.S. business shut down last year, but the new return still shows a QBI loss carryforward. Is that possible?
I am from India and had a U.S.-connected business that generated a loss in one year, then shut down. In 2026 I have a different business activity and my preparer says the old QBI loss still has to be considered against the new year's section 199A calculation. I was expecting the loss to stay with the old business only.
This is confusing because the original business no longer exists. If the old QBI loss can still follow me into future years, I need to understand why and how it should be tracked going forward.
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