TaxGuyBill
Level 15
03-12-2022
02:32 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
@sjrcpa wrote:
"to qualify for the Section 199A QBI deduction, a rental property with multiple owners must file as a partnership"
Where'd that come from?
AFAIK a rental needs to be a trade or business to qualify for the QBI deduction.
If it is a Trade or Business, it would be on the 1065 (unless the owners were only husband-and-wife). Mere co-ownership of a rental doesn't need to be on a 1065 because it is not a "trade or business".
https://www.irs.gov/instructions/i1065#en_US_2021_publink11392vd0e339