If a real estate LLC has both active and non-active members, do I allocate Qualified Business Income to the active members only?

nlmoline-cpa · ‎12-06-2019

TaxGuyBill · ‎12-06-2019

Nope. It the LLC qualifies for the QBI, it goes to all members, regardless if they are active or not.

abctax55 · ‎12-06-2019

The determination is made at the entity level, and the specifics provided to the members/shareholders/etc via the K-1.

This is totally different from the rules for active/passive participation....which is why my head hurts

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George4Tacks · ‎12-06-2019

Yes, but only one of the reasons the head hurts. This season my whole being hurts.

Here's wishing you many Happy Returns

abctax55 · ‎12-06-2019

And WE use Lacerte...it could be worse

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nlmoline-cpa1 · ‎12-06-2019

Thank you all for responding to my question. I really appreciate it.

abctax55 · ‎12-06-2019

HEY...thanks for coming back and saying thanks ! We don't get a lot of that

"*******Tax software is no substitute for a professional tax preparer*******
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