Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Safe Harbor Election for Rentals (250 hour rule)

socaltax
Level 1

Is there going to be a safe harbor election added to the Proseries software for the 250 hour safe harbor election for rental properties?

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
IntuitJim
Employee
Employee
Lacerte and Tax Online now include the statement and the planned release date for ProSeries is March 6. In the interim, you can type a statement to print, sign and attach. Apologize for the delay. Like customers, our teams are working very hard to incorporate all the tax reform changes in product. Thanks for your patience.

View solution in original post

24 Replies 24
IntuitCharlene
Community Manager
Community Manager

I've looked into the new Safe Harbor Elections that you are referencing. 

To get the calculation to work in ProSeries you would simply fill out the Qualified Business Income Deduction Info Smart Worksheet at the bottom of your Schedule E Worksheet. 

If the IRS needs an election statement to go with it, this election statement has not been added to ProSeries 2018 so it would need to be added on the Preparer Notes worksheet or via a PDF Attachment. 

https://accountants-community.intuit.com/articles/1605889-individual-using-preparer-notes-for-e-file... shows you how to use the Preparer Notes. 

https://accountants-community.intuit.com/articles/1606302-attaching-pdf-files-to-federal-or-state-in... shows you how to add a PDF attachment to the return. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Accept as solution"
IntuitJim
Employee
Employee

Yes, we will be adding a Section 199A Trade or Business Safe Harbor Statement for Rental Real Estate (pursuant to Notice 2019-07) to all 3 products (ProSeries, Lacerte, ProConnect Tax Online). You can print the statement for the taxpayer signature then attach as a PDF to e-file with the return. We expect the statement to be added in the next week. 

MrMojo
Level 3

Any word on when that 199A election form will be included in 2018 ProSeries?

Will it be added in the 1040 Individual Elections Summary sheet?

Thanks!

 

0 Cheers
Marc-TaxMan
Level 8

Yes, where will that statement appear?

0 Cheers
Marc-TaxMan
Level 8

Hi Jim:  How are you guys doing on the Safe Harbor Stmt?

And the 706 typo fix?

And the printing crisis?

And why is there no list of known problems and ETA on solutions, other than soon?

Taxmanandy
Level 1

I have aggregated several properties and Lacerte creates a Sec199A Renatal Real Estate safe harbor statement for each rental property. I would think if we did an aggregation that the statement should list all aggregated properties on one statement not individual statements

0 Cheers
Marc-TaxMan
Level 8

Hi Jim:  Is the Safe Harbor released yet?  Hidden somewhere?

0 Cheers
TrumpJ
Level 3

Is this statement for the 250 Hour Safe Harbor Rule available yet in ProSeries?  If so, where is it?  I am unable to locate it.

0 Cheers
Marc-TaxMan
Level 8

JIM:  Please give us an ETA on Safe Harbor

0 Cheers
Kathi_at_Intuit
Employee
Employee

Let me check on this.

0 Cheers
IntuitJim
Employee
Employee
Lacerte and Tax Online now include the statement and the planned release date for ProSeries is March 6. In the interim, you can type a statement to print, sign and attach. Apologize for the delay. Like customers, our teams are working very hard to incorporate all the tax reform changes in product. Thanks for your patience.

View solution in original post

Marc-TaxMan
Level 8

Funny:  Lacerte + PTO (?) has it now.  ProSeries is 2 weeks out.  Hmm.  TurdoTax has it now?

0 Cheers
Michelle
Level 1

Since Lacerte and Tax online have it now, will you post a pdf of what they have so that we can use it.

0 Cheers
Kathi_at_Intuit
Employee
Employee

This is what it looks like in PTO and Lacerte:

Snag_428ba21.png Snag_428dccc.png

MrMojo
Level 3

Please ADD that Statement to the K-1 Partnership/S-Corp worksheets as well!

Thanks!

0 Cheers
Stella503
Level 1
 
0 Cheers
SNOWY86303
Level 2

I've found the election statement.  Cannot find  how to attach it to the federal/state tax returns, since it appears to be part of the Lacerte elections and doesn't appear as a separate PDF to attach.

0 Cheers
Kathi_at_Intuit
Employee
Employee

In Forms view in Lacerte, you would be able to print the election to a PDF and then attach it to the return. In Lacerte if you were to type in the upper right "PDF attachment" it would bring up this knowledge base for you:

Attaching PDF Documents to an E-file Return

https://accountants-community.intuit.com/articles/1606113-attaching-pdf-documents-to-an-e-file-retur...

0 Cheers
atwood
Level 2

Once again, ProSeries lags Lacerte and online.  The lagging software.

0 Cheers
Stella503
Level 1

Is there a reason why Proconnect is not doing a formal statement to sign for the 2019 tax year as they provided for 2018?  The only response I received was to type it up myself for this year.

0 Cheers
AndyReynolds
Level 2

I keep hearing for ProSeries there will be a safe harbor election in the software, and it will be out in a week. It's been a month! Where is it?

0 Cheers
IntuitBoris
Moderator
Moderator

ProSeries has it released.

On the QBI Deduction Info wksht, there's a checkbox right below the yes/no question whether it's QBI to indicate it qualifies for safe harbor. 

0 Cheers
AndyReynolds
Level 2

I was expecting to find the statement to attach to the return by going Forms\look up 199A. It was not clear to me that checking off that box BELOW the A - Is this a qualified trade or businees,  that I had to check off the next box "This rental qualified as abusiness under safe harbor 2019-07, AND BY CHECKING THIS OFF, the statement gets automatically generated...  This is slightly a diferent approach to adding statements, which was not clear to me. Thanks so much!

0 Cheers
David Stone
Level 2

Is this election statement available for Form 1065, Form 8825 (Real estate income) available yet? If yes, how do I navigate to this election to the PDF pring out? Thank you.