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Level 1
December 7, 2019
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Partnership owns real property under NNN lease. Does not qualify for QBI. Where do you indicate in the program not to calculate the QBID?

  • December 7, 2019
  • 7 replies
  • 45 views
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Best answer by sjrcpa

I think Lacerte's default for rental property is that it does not qualify for the deduction.

7 replies

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

I think Lacerte's default for rental property is that it does not qualify for the deduction.

The more I know the more I don’t know.
sjrcpa
Level 15
December 7, 2019
The more I know the more I don’t know.
abctax55
Level 15
December 7, 2019

That's what their notice said; but I *think* I heard that PS is making the opposite assumption.

I haven't had a chance to see what today's update is doing/not doing..

HumanKind... Be Both
sjrcpa
Level 15
December 7, 2019
Neither have I
The more I know the more I don’t know.