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Get your taxes done using TurboTax
Qualified Business Income (QBI) is your net income from business activities, rental property in your case evidently. If you have a loss in the rentals, then the QBI will be negative. Since it appears you have no rental losses that are being carried forward, the QBI losses associated with them would have been recognized in the periods you deducted the rental losses, so there would be no carryover QBI losses left.
So, there shouldn't be any QBI losses on your tax return assuming you applied your rental loss carryovers from 2018 properly in previous years. In that case, you should delete them from your Schedule E and it won't affect you going forward.
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‎January 29, 2025
2:42 PM