laval650
Level 3
12-07-2019
07:04 AM
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sjrcpa
Level 15
12-07-2019
07:04 AM
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Yes. You use 2018 QBI. If the net is positive they may get the deduction.The deduction did not exist in 2017.
The more I know the more I don’t know.
itonewbie
Level 15
12-07-2019
07:04 AM
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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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