It is correct.
The
20% QBI deduction calculation compares the difference between 20% of the QBI
(your Schedule C net income, minus any other deductions attributable to your
Schedule C income, which
encompasses deductions such as the solo 401K deduction, Self-Employed Health
Insurance Deduction attributable to the business, and 1/2 of SE tax being
deducted on your return) and 20% of *taxable* income minus capital
gains. Whichever amount is lower is the QBI deduction.
[Edited 2/22/2019 [11:20]
