Hi,
I grouped SchE rental properties into 3 entities group and did QBI elections for each. The net of Sch E is a loss.
(all of the properties were having losses, except one has net income)
I do not see the loss were taken to 1040 and being deducted.
I have overrided on rental property entry worksheet indicate that "Business is a qualified trade or business". Do I need to do anything else in order to have QB loss deducted?
I could not locate any QBI worksheet where I hope can see the calculation.
I remember I seen in 2018 return, is this changed?
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That is the correct tax treatment.
The computations are all on the Worksheets.
Remember also that we now have F.8995/8995-A, which largely replace those worksheets from the prior year. The Worrksheets in PTO are only for some of the underlying computation.
I see that now, but seemed the QB loss were limited, could not deducted in 2019
That is the correct tax treatment.
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