Is it possible to deduct remaining carryforward Qualified Business Income Deductions (QBID) after disposition of the business/activity? If so, how/where would I do that in the program?
My income has become a combo of wages, retirement/pension, interest/dividend income, and a small amount of Limited Partnership income that is passive and reported on K-1. I have a SIGNIFICANT (to me) amount of QBID carrying forward to next year. At 20% of 23% limit against QBI, it likely will NEVER get used up with the K-1 income. I DO have rental property income also (sole owner) - does the QBID apply to that (again, would still take a lifetime to cut into the balance).
Is there anyway to deduct that carryforward QBID from my non-biz income, or do I just lose those carryforward deductions unless I get involved in another business/partnership?
A QBI deduction carryforward is a QBI "loss" carryforward. It is sort of the opposite of a deduction.
No, nothing happens when you end the business. It keeps carrying forward until it is 'used up' against other QBI profits.
For your question about your rental property, opinions vary if a single rental is a QBI activity or not. My opinion is that a single rental usually is NOT a QBI activity, in which case it would not have any affect on your negative QBI carryover.