I had a qualified business loss carryover of $11,999 in 2020 on rental property. In 2021, I made a profit of $4609 on rental property. My 2021 tax return shows Form 8995 with the $4609 subtracted from the $11,999 carryover, leaving a net carryover of $7390. But still, on Form 1040, the $4609 was added to my income. Similarly in 2022, the profit I made from my rental property ($5089) was subtracted again, leaving a QBI loss carryover of $2301. Again the $5089 was added to my income on Form 1040, line 8.
I would have thought that using the QBI loss carryover would have erased my profit for those years. Am I missing something?