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Rental loss carryover $2500 from 2017. Rental $1000 profit in 2018. Pro shows $200 Section 199A deduction on 2018 1040. Is that the correct outcome?

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Level 2
last updated ‎December 07, 2019 2:41 AM
 
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Level 15
last updated ‎December 07, 2019 2:41 AM

Yes.  That's in accordance with §1.199A-3(b)(1)(iv).

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Level 15
last updated ‎December 07, 2019 2:41 AM

Yes.  That's in accordance with §1.199A-3(b)(1)(iv).

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Level 10
last updated ‎December 07, 2019 2:41 AM

Is the rental activity a trade or business?  And/or is the client making a safe harbor election?

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Level 2
last updated ‎December 07, 2019 2:41 AM
It's a safe harbor election
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Level 10
last updated ‎December 07, 2019 2:41 AM
Perfect.  You're all set.
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