Client has 3 rentals and when netting, has a $2,000 loss. So, assuming he is QBI-eligible, he has a QBI loss carryover to 2019 of $2000. So...if he has a $3000 gain in 2019, that is reduced to $1000 and he has QBI deduction of $200 (20% of $1000) in 2019. Is that how it will work? And am I correct that once you decide a given business is (or is not) QBI-eligible, the election is forevermore unless circumstances change?
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