9-48 Qualified Business Income Deduction-Multiple Partnerships. Jack, a single individual, owns a 40% interest in three operating partnerships. For the current year, the three partnerships reported the following: Income W-2 wages. Qualified property.. P1 P2 P3 $350,000 675,000 800,000 $ 450,000 $550,000 120,000 125,000 1,200,000 600,000 a) Jack's total taxable income for the year is $500,000. Compute his QBI deduction for the year. b) Assume the same facts as in (a), except P3 reported a loss of $550,000. Compute Jack's QBI deduction for the year in this instance