The big thing to remember is that a net QBI loss does not reduce this deduction, nor does a net PTP loss reduce the QBI deduction. Because Y has QBI but no W-2 wages, and Z has a small amount of QBI but large W-2 wages. None have UBIA, but each have QBI and wages as follows:X – QBI of $1,000,000; W-2 wages of $500,000Y- QBI of $1,000,000; no W-2 wagesZ-QBI of ($600,000) W-2 wages of $500,000. None have UBIA, but each have QBI and wages as follows:X – QBI of $1,000,000; W-2 wages of $500,000Y- QBI of $1,000,000; no W-2 wagesZ-QBI of ($600,000) W-2 wages of $500,000. Disclosure RequirementsA pass-through entity is required to allocate and disclose QBI, W-2 wages, and UBIA of property.

Source: Forbes January 19, 2019 15:26 UTC