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Level 5
December 7, 2019
Solved

Does residential rental property qualify for qbi deduction

  • December 7, 2019
  • 7 replies
  • 31 views

Does a residential rental that owner manages eligible for the 20%QBI deduction?

This topic has been closed for replies.
Best answer by George4Tacks

Maybe? There is much discussion. https://www.caltax.com/news/flash-email/2018-23-irc-%C2%A7199a-information-released-in-draft-publica... is a place to start. While you are there, sign up for their Flash E-mail. Very informative, even if you don't do CA returns. 

7 replies

George4Tacks
Level 15
December 7, 2019

Maybe? There is much discussion. https://www.caltax.com/news/flash-email/2018-23-irc-%C2%A7199a-information-released-in-draft-publica... is a place to start. While you are there, sign up for their Flash E-mail. Very informative, even if you don't do CA returns. 

Answers are easy. Questions are hard!
Intuit Community Champion
December 7, 2019
the latest info I have read says, yes. With the latest update for ProSeries it does give the QBI deduction for schedule E
abctax55
Level 15
December 7, 2019

One excellent commentator's take on it:

https://img1.wsimg.com/blobby/go/310b78c2-6a3e-4922-acb3-709b44966191/downloads/1cj1au49p_579493.pdf

There is NO blanket answer of yes/no.  You as the tax pro have to evaluate the facts & circumstances of each one of your clients.

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