Yes, you are correct in understanding that if the sum of both business incomes is negative then the net QBI is a loss and is eligible to be carried forward.
No, you cannot exclude QBI income on the basis that it reduces your deduction. You would have to exclude the entire business, which would mean both you were not reporting your income accurately and it would increase your taxable income while your QBI deduction stayed the same. So, in the end, you could get in trouble and you would pay more tax.
@RC_and_C
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
