Level 2

Safe Harbor Election for Rentals (250 hour rule)

Forum|Forum|7 years ago
February 1, 2019
1 reply
0 views

Is there going to be a safe harbor election added to the Proseries software for the 250 hour safe harbor election for rental properties?

ProSeries Professional

This topic has been closed for replies.

IntuitCharlene

Community Manager

I've looked into the new Safe Harbor Elections that you are referencing.

To get the calculation to work in ProSeries you would simply fill out the Qualified Business Income Deduction Info Smart Worksheet at the bottom of your Schedule E Worksheet.

If the IRS needs an election statement to go with it, this election statement has not been added to ProSeries 2018 so it would need to be added on the Preparer Notes worksheet or via a PDF Attachment.

https://accountants-community.intuit.com/articles/1605889-individual-using-preparer-notes-for-e-file-returns shows you how to use the Preparer Notes.

https://accountants-community.intuit.com/articles/1606302-attaching-pdf-files-to-federal-or-state-individual-returns-for-electronic-filing shows you how to add a PDF attachment to the return.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution" and then just changing the Accept as solution to Mark as Best Answer, mine gets cutoff, so it is too long. I changed mine to the following and it fits. -->**Say "Thanks" by clicking the thumb icon in a post**Click "Mark as Best Answer " to mark the post that answers your question.

IntuitJim

Level 5

Yes, we will be adding a Section 199A Trade or Business Safe Harbor Statement for Rental Real Estate (pursuant to Notice 2019-07) to all 3 products (ProSeries, Lacerte, ProConnect Tax Online). You can print the statement for the taxpayer signature then attach as a PDF to e-file with the return. We expect the statement to be added in the next week.

A

atwood

Level 2

Lacerte and Tax Online now include the statement and the planned release date for ProSeries is March 6. In the interim, you can type a statement to print, sign and attach. Apologize for the delay. Like customers, our teams are working very hard to incorporate all the tax reform changes in product. Thanks for your patience.

Once again, ProSeries lags Lacerte and online. The lagging software.

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