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QBI
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MrWallSt
Level 1
05-24-2022
04:16 PM
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client is a financial advisor (self employed) receives a 1099 for his ohio based buiness, he also owns a 4 unit apartment building in maine, Do both of these qualify for the QBI deduction?
3 Comments 3
MrWallSt
Level 1
05-24-2022
09:07 PM
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The Maine apartment building is in a sole proprietor LLC it’s residential 4 unit building that he files on a schedule E. It’s the only building he has!
sjrcpa
Level 15
05-25-2022
08:40 AM
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You, in consultation with the client, need to make the determination of whether the rental activity qualifies as a trade or business for 199A purposes.
Ex-AllStar
