BobKamman
Level 15
03-12-2022
01:50 PM
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We had a question recently that of course the Intuit “Search” function could not find if the CEO’s life depended on it. It involved a rental property owned as “Tenants in Common” which apparently was filing a partnership return. This was perfectly appropriate although it wasn’t clear until about the third or fourth reply. The interest and taxes were already reflected on the Schedule K-1.
It just occurred to me today that to qualify for the Section 199A QBI deduction, a rental property with multiple owners must file as a partnership. So that’s probably being done more often than before the law familiarly known as TCJA.