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Rental loss

Our AGI exceeds $200,000, which means our rental loss can't be deducted against income, and the total loss will be carried over to next year, why would the rental loss being QBI or not affect taxes we owe? 

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2 Replies
MarilynG1
Expert Alumni

Rental loss

Your Rental Activity being qualified as QBI wouldn't affect whether you can claim your Passive Activity Loss or not, though it could reduce tax you owe.  The QBI is calculated separately, and can also be carried over, or netted against another business activity in the current year.  It may also be calculated on wages, interest and capital gains as well as business income. 

 

Here's more info on QBI Passive Activity Loss Carryover and How QBI is Calculated.

 

@yaomingd65 

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Rental loss

It shouldn't, but from what I've read TurboTax handles QBI incorrectly when the Passive Losses are suspended.

 

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