Thank you. So hypothetically, for a property that would otherwise qualify for QBI, does the depreciation matter for this calculation? For example, let's say someone has $4000 of depreciation on a rental property annually. And let's say they would have a $3000 net gain from rent on the property if there were no depreciation. But since they are taking the depreciation write-off, they can therefore declare a $1000 net loss from the rental. Would this entity be eligible for the QBI deduction? Again, assuming that the rental activity qualifies in all other respects. In other words, would this be treated as $3000 of income or as $1000 of losses when calculating QBI? Thanks again.
