Client received a k-1 from a partnership that has rental income from various rental real estate activities - does he get the 20% QBI deduction?

[sjrcpa · Accepted solution]

Maybe. Does the K-1 have QBI info on it? That's Step 1.

[kgcpa0899]

yes, it does.  The llc holds and manages various rental properties and real estate invesments

[abctax55]

Determination of whether the rental activity rises to the level of TorB is done at the entity level.

If the K-1 has the info entered, then it was determined to qualify (assuming a competent preparer did the F 1065).