there's a difference. 1245 would qualify as QBI if it is from a non-PTP.
as a matter of fact PTP income is not QBI but the code section and related regs puts it into a special category
so you get 20% of PTP 199A income as a QBI deduction. for regular partnerships if a taxpayer's taxable income is above a certain threshold they get 0% of its QBI as a deduction (1065 box 20 code z). for a PTP if a taxpayer's taxable income is above a certain threshold they still get 20% of the PTP 199A income as a QBI deduction (1065 box 20 code AD)
MFJ taxable income $800,000 all from a regular partnership QBI deduction $0
MFJ taxable income $800,000 all from PTP QBI deduction $160,000
QBI is defined as the “net amount of qualified items of income, gain, deduction, and loss with respect to any qualified trade or business of the taxpayer. Such term shall not include any qualified REIT dividends, qualified cooperative dividends, or qualified publicly traded partnership income.” IRC § 199A(c)(1).
you do have the option of consulting a professional tax advisor.
