Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Passive investment in a qualified QBI partnership becomes non-passive on Schedule E if I enter the QBI information - why?
Passive investment in a qualified QBI partnership becomes non-passive on Schedule E if I enter the QBI information - why?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
LeonardCPA
Level 1
04-22-2021
02:30 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My research points to the fact the a passive investor can still claim QBI if the partnership is a qualified trade or business because participation is not mandatory. I have a client with an ordinary business loss this year in his passive investment (his share is 2.275 and he does not participate in management), but if I enter the QBI information, it throws the passive loss into the non-passive column on Schedule E2.
I understand there is no QBI deduction because of the loss, but I want to be consistent with future years when there might be income. The trade or business is a restaurant.
Thank you to anyone that can show me what I am not understanding.
This discussion has been locked.
New comments cannot be posted on this discussion anymore. Start a
new discussion
