Answered: QBI Real Estate Safe Harbor Election

MidTn · ‎12-07-2019

Is the Qualified Business Income real estate safe harbor election made at the entity level for a partnership or only at the partner level? If it is to be made at the entity level, where is the safe harbor election located?

itonewbie · ‎12-07-2019

Partnership level. According to Intuit two weeks ago, it's in the works for 1065 but there's been no update since. When it's ready, it should be on Screen 33, per Intuit.

In the meantime, you may like to use this from Spidell as a reference: https://www.caltax.com/spidellweb/public/editorial/199asafeharbor.doc

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Still an AllStar

View solution in original post

itonewbie · ‎12-07-2019

Partnership level. According to Intuit two weeks ago, it's in the works for 1065 but there's been no update since. When it's ready, it should be on Screen 33, per Intuit.

In the meantime, you may like to use this from Spidell as a reference: https://www.caltax.com/spidellweb/public/editorial/199asafeharbor.doc

---------------------------------------------------------------------------------
Still an AllStar

knorris · ‎01-27-2020

Any update on Lacerte providing the Election for the Safe Harbor for rental real estate for QBI?

QBI Real Estate Safe Harbor Election

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