Running26
Level 3
04-28-2023
05:28 PM
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I took your advice and split the rental into two columns on Schedule E. The self-Rental had a $11,000 in net income but since the S-Corp is a Specified Service Trade or Business (SSTB) the self-rental should be also. Yeah, the S-Corp made $250k and taxable income is $482K (MFJ) so there is zero QBI Deduction here. Rats!
Do you agree the in the self-rental (Sch E) input, that I would check the box as the rental being SSTB?