I assume you are working on a partnership K-1 schedule, where box 1 would be business income and box 2 would be rental income. The carryover loss for each would likely reduce the income reported for this year for qualifed business income (QBI) purposes, but not necessarily, as QBI is calculated separately from net business or rental income. The QBI would be calculated separetely for each category of income, taking into consideration the QBI loss carryforward from the previous year. The QBI for each category would be combined and then added to other QBI on the tax return to arrive at one figure to be used in the calculation of your QBI deduction on Form 1040.
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