No, the QBI loss is only included in how much QBI deduction you will receive when you start reporting income from the farm (instead of loss). For example:
2021 2022
w2 wages = 100,000 w2 wages = 100,000
sch F loss = -40,000 QBI loss = -40,000 sch F inc = 50,000 QBI = 50,000
AGI = 60,000 AGI = 150,000
Std Ded = 25,900 Std Ded = 25,900
QBI Ded = 0 QBI Ded = 2,000 (20% of total QBI $10,000 (50,000 - 40,000) - the loss reduces your deduction)
Taxable Inc = 34,100 Taxable Inc = 122,100
So, while they both do reduce your income you are not double counting the loss. If in my example, the QBI loss carryover from 2021 had contained multiple years and been in the $100,000 range (from your first post), the $50,000 of QBI in 2022 would have reduced the QBI loss carryover to $50,000 and there would still be no QBI deduction because the loss eliminated all QBI.
@farmer875
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
