MrMojo
Level 3
12-06-2019
08:18 PM
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www.thetaxadviser.com/news/2019/jan/sec-199a-qbi-deduction-xxxxxxxxx.html
"A rental real estate enterprise is defined, for purposes of the safe harbor, as an interest in real property held for the production of rents. A rental real estate enterprise may consist of multiple properties. The interest must be held directly or through a disregarded entity. Taxpayers either must treat each property held for the production of rents as a separate enterprise or must treat all similar properties held for the production of rents as a single enterprise.
"Commercial and residential real estate cannot be combined in the same enterprise"."
The last sentence disqualifies a 'rental' property for QBID if it's Mixed.
How many taxpayers actually keep some sort of log? Or have separate bank accounts for each property?
250 hours/year ~5 avg hours/week/21 avg hours/month are relatively reasonable for time spent for rental real estate activities, though some rental owners may not even put in that much time, depending on the owners, as it depends on facts and circumstances for Each taxpayer.
"A rental real estate enterprise is defined, for purposes of the safe harbor, as an interest in real property held for the production of rents. A rental real estate enterprise may consist of multiple properties. The interest must be held directly or through a disregarded entity. Taxpayers either must treat each property held for the production of rents as a separate enterprise or must treat all similar properties held for the production of rents as a single enterprise.
"Commercial and residential real estate cannot be combined in the same enterprise"."
The last sentence disqualifies a 'rental' property for QBID if it's Mixed.
How many taxpayers actually keep some sort of log? Or have separate bank accounts for each property?
250 hours/year ~5 avg hours/week/21 avg hours/month are relatively reasonable for time spent for rental real estate activities, though some rental owners may not even put in that much time, depending on the owners, as it depends on facts and circumstances for Each taxpayer.
