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Can a QBI deduction from K-1s be calculated even when all the income from these K-1s is completely eliminated by past losses in 2018?

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Level 15

Yes. You use 2018 QBI. If the net is positive they may get the deduction.The deduction did not exist in 2017.


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Level 15

Yes. You use 2018 QBI. If the net is positive they may get the deduction.The deduction did not exist in 2017.


ex-AllStar

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Level 15

Losses and deductions from tax years ended  before Jan 1, 2018 but disallowed, suspended, limited, or carried over to future years are not taken into account for QBI pursuant to §1.199A-3(b)(1)(iv).

What Susan explained, however, is correct for losses and deductions from tax years beginning Jan 1, 2018.

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