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Does a residential rental that owner manages eligible for the 20%QBI deduction?
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Maybe? There is much discussion. https://www.caltax.com/news/flash-email/2018-23-irc-%C2%A7199a-information-released-in-draft-publica... is a place to start. While you are there, sign up for their Flash E-mail. Very informative, even if you don't do CA returns.
Here's wishing you many Happy Returns
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Maybe? There is much discussion. https://www.caltax.com/news/flash-email/2018-23-irc-%C2%A7199a-information-released-in-draft-publica... is a place to start. While you are there, sign up for their Flash E-mail. Very informative, even if you don't do CA returns.
Here's wishing you many Happy Returns
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Ukraine - hang in there
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@fredr needs to decided, based on a thorough set of open end questions to his client, whether that property qualifies.
Here's wishing you many Happy Returns
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https://www.kitces.com/blog/irs-notice-2019-07-199a-qbi-deduction-250-hours-safe-harbor-rental-real-...
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Ex-AllStar
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One excellent commentator's take on it:
https://img1.wsimg.com/blobby/go/310b78c2-6a3e-4922-acb3-709b44966191/downloads/1cj1au49p_579493.pdf
There is NO blanket answer of yes/no. You as the tax pro have to evaluate the facts & circumstances of each one of your clients.