199A

Forum|Forum|5 years ago
December 10, 2020
9 replies
20 views

For a 1041, I transferred all my data from 2018 to 2019. I have determined that one of the two real estate rental properties reported on the 2018 return may actually qualify as a trade or business under Section 162 to permit a QBI Deduction. The software will not let me eliminate the property that doesn't qualify from the Schedule E so that I can prepare another Schedule E to report the two properties differently. How can I make this change for 2019?

ProSeries Professional

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T

TaxGuyBill

What do you mean by "software will not let me eliminate the property"? You need to be specific with how you are trying to do it and what the program does to "not let" you do it.

But before that, why do you want to eliminate that one? Can't you just fill out the QBI information for that property?

M

mcornAuthor

Level 2

Thank you for your reply. As you can discern, I am struggling with the software. My thinking is that the one rental property which generates QBI should be on one Schedule E, and the one that doesn't should be on another Schedule E. The software will not let me delete any properties off Schedule E. Combining the two on one Schedule E seems to require that all of the income, from both properties, will either be deemed QBI or none of the income will be deemed QBI. I gather the inability to delete a property from Schedule E arises because I reported both rental properties on one Schedule E in 2018. Thus my problem.

sjrcpa

Level 15

So you aggregated them and treated as one activity?

The more I know the more I don’t know.

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