Skip to main content
Level 2
Dec 7, 2019 1:07 AM UTC
Solved

Does anyone know if Lacerte will have some kind of client worksheet (perhaps with the organizer) for clients to fill in to see if their rentals qualify for QBI?

No text available
This topic has been closed for replies.
abctax55
abctax55Answer
Level 15
Dec 7, 2019 1:07 AM UTC

Given that the decision as to whether each rental rises to the level of a trade or business is a "facts & circumstances" situation, I don't think a "client worksheet" is something Lacerte would even consider.

That's what each of us, as a professional tax preparer, will need to do.  Oh joy.

HumanKind... Be Both

2 replies

abctax55
abctax55Answer
Level 15
Dec 7, 2019 1:07 AM UTC

Given that the decision as to whether each rental rises to the level of a trade or business is a "facts & circumstances" situation, I don't think a "client worksheet" is something Lacerte would even consider.

That's what each of us, as a professional tax preparer, will need to do.  Oh joy.

HumanKind... Be Both
George4Tacks
Level 15
Dec 7, 2019 1:07 AM UTC

I like the lastest Flash e-mail from Spidell https://www.caltax.com/news/flash-email/2018-23-irc-%C2%A7199a-information-released-in-draft-publica...  

Even if you don't do California taxes, this free subscription is well worth the money. https://www.caltax.com/news/flash-email/

Answers are easy. Questions are hard!