ThomasM125
Expert Alumni

Business & farm

No, the qualified business income deduction (QBI) only applies to business income. If you have a business loss one or more years, you may have a QBI loss carryforward that can only be used to offset business income in future years. If your business income is more that your QBI loss carryforward, then you may qualify for a QBI deduction in that year. Since you don't have any business income anymore, you can't use the loss against it.

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