Program is allowing loss from Schedule C to offset other income AND carrying forward the entire loss as a QBI loss carryforward. This seems incorrect.

[PhoebeRoberts]

That's how QBI works, yes. QBI losses only offset QBI income, and otherwise carry forward.

[bethbrake]

The program is allowing the current QBI loss to offset capital gain and dividend income AND carrying the full QBI loss forward to 2022.

[joshuabarksatlcs]

Not just on Friday.  Same rule for other days of the week...

[TaxGuyBill]

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@bethbrake wrote:

The program is allowing the current QBI loss to offset capital gain and dividend income AND carrying the full QBI loss forward to 2022.

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No, the program is allowing the current BUSINESS loss to offset other income.  That is how it works, losses offset income.

The QBI that you are referring to is a type of deduction, not income or a loss, so it is completely separate than claiming a loss.  The "QBI loss" that is being carried forward merely means it is reducing future QBI deductions.