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Qualified Business Income Deduction
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sabiduria
Level 3
03-26-2022
01:11 PM
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This is for a passive rental income. The question goes" indicate if [rental property] qualifies as a trade or business under section 199A.
It has the following options:
Check if this business is a qualified trade or business for section 199A
Check if making the safe harbor election provided in Revenue Procedure 2016-38
I checked the first one as the owner is managing the property is involved in everything related to maintenance. I previously selected the De minimis safe harbor election, so does that mean I have to also check the 2nd option?
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TaxGuyBill
Level 15
03-26-2022
01:47 PM
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@sabiduria wrote:
I checked the first one as the owner is managing the property is involved in everything related to maintenance
That does not necessarily mean it qualifies as a business.
As for your question, have you read that Revenue Procedure to see if that makes your client qualify?
