Question: Can you advise where should I input the deferred losses amount from 2020 (losses from partnership) into current 2021 individual tax return. The partnership in a 2021 had generated a profit and could utilise the losses from previous years.
Answer: At the bottom of Business section. Field “Deferred non-commercial losses from a prior year”.
Question: How can I bring in the deferred losses which related to the partnership from previous year?
Answer: In this case, deferred losses can also be shown in Other deduction field in “Income from partnership” worksheet.