The full wording of the calculation is "20% of the lesser of QBI or taxable income minus capital gains and dividends".
This takes your net qualified business income and subtracts your personal gains and any personal dividends, then multiplies that by 20%, unless your taxable income (line15 of Form 1040) is in excess of $164,900 (or $329,800 if you are married filing jointly).
There are additional calculation limitations above that for different types of businesses but they are rare.
@hamkyleham
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