Is schedule k1, form 1065, part III, number 2, check if rental activity is a trade or business asking for purposes of rules for QBI rental properties or passive activity?

[nardi]

I am entering clients share of income from a partnership return. On schedule k1, form 1065, part III, number 2, "check if rental actibity is a trade or business", I am not sure if they are asking for a QBI reason or a passive activity reason.

[sjrcpa · Accepted solution]

QBI

[IRonMaN]

@sjrcpa
Kind of funny how that picture worked.  Until your avatar showed up, I haven't seen or heard of Peter, Paul and Mary for a century or so.  But then I click on the TV last night and there they are on PBS

[sjrcpa]

That is funny.