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Section 199A - Safe Harbor

Rainbow
Level 1

(1) Is Safe Harbor applicable to rentals, both residential and commercial?

(2) 250 hours is in aggregate all rentals owned by taxpayer, correct?

(3) Section 3. Rules of Application, section .02 Rental real estate enterprise, what is this sentence mean .. "Commercial and and residential real estate may not be part of the same enterprise"?

If you have both commercial and residential RE in a partnership, do you need to segregate the income, unadjusted basis, wages on k-1s?

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1 Comment 1
IntuitAustin
Intuit Alumni

Check out this thread we had on Safe Harbour, you may find the answer you are looking for!

https://proconnect.intuit.com/community/Discussions-Tax-Reform/Safe-Harbor-Election-for-Rentals-250-...


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