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In general, losses and deductions incurred prior to 2018 are not qualified losses or deductions and are not included in QBI in the year they are included in calculating taxable income. Losses or deductions from a qualified trade or business that are suspended by other provisions of the Internal Revenue Code are not qualified losses or deductions and, therefore, are not included in your QBI for the year. Such Code provisions include, but aren’t limited to, sections 163(j), 179, 461(l), 465, 469, 704(d), and 1366(d). Instead, qualified losses and deductions are taken into account in the tax year they’re included in calculating your taxable income. The deductible QBI amount after the wage and capital limitation is the deductible QBI amount calculated as if no wage or capital limitation applied ($51,000) less the reduction ratio of 0.15 × the excess amount of $17,000 ($2,550), or $48,450. Because the taxpayers have...