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    T/p has a second home and people living there, does t/p " qualifiy for business income deduction ?

    rudydianeg
    Level 1
     
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    7 Comments 7
    dkh
    Level 15

    They may have a rental property to file on Schedule E.     Read thru IRS Pub 527 Residential Rental Property.

    Just-Lisa-Now-
    Level 15
    Level 15

    Are you asking if their rental property qualifies for QBI?   

    By the way you said "a second home someone lives in" it doesn't sounds like its being run like a business.


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    IRonMaN
    Level 15

    What "people" are living there?


    Slava Ukraini!
    itonewbie
    Level 15

    If you're asking about QBI, the answer is no.  See Rev. Proc. 2019-38 Section 3.05(A).

    ---------------------------------------------------------------------------------
    Still an AllStar
    dkh
    Level 15

    Maybe it's like that Nicole Kidman movie The Others.   The ghosts don't know they're ghosts 😲👻

    BobKamman
    Level 15

    Is there some reason you call them "people living there," and not "tenants" ?   Do you call it a "home" and not just a "house" because he lives there sometimes, too?

    Anyway, if you Google "Airbnb QBI" you find this interesting article:

    https://www.accountingtoday.com/opinion/innovation-meets-regulation-the-looming-tax-headache-for-air...

    George4Tacks
    Level 15

    Is this the same home you posted a couple of months ago? https://proconnect.intuit.com/community/proseries-discussions/discussion/i-am-in-a-nursing-home-my-d... 

    Should you be wandering the TurboTax forum, instead of being here?

    Does this return qualify as a simple return? https://proconnect.intuit.com/community/proseries-discussions/discussion/my-client-filed-a-simple-ta...

     


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