itonewbie
Level 15
03-28-2019
11:20 AM
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It wouldn't be right if 1/2 SE tax deduction is allocated to the QBI from K-1 rental.
Allocation of 1/2 SE tax deduction attributable to the respective qualified trade or business is normally done based on share of each qualified ToB's net earnings on Sch SE. In this case, the K-1 with only rental income would have no income subject to SE tax.
How is PS allocating the 1/2 SE tax deduction to the QBI from K-1?
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