I have a client that has 2 Schedule C businesses, one under the SSN and one under an EIN. One business has a loss, the other a profit. I though the QBI deduction was based on each business, not the businesses in total. Right now, there is no QBI because the loss is bigger than the profit.
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Business A has a profit of $250. Business B has a loss of $400.
Does Business A get the QBID? (This was my understanding - each business stands on its own.)
Right now, PCO is netting Business A and Business B together for a loss of $150.
The software is correct. If the net income/loss of all Qualified Businesses on the return is a loss there is no QBI deduction. Further, the loss carries forward for use in computing next year's deduction.