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Free CPE/CE
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bandb
Level 3
02-16-2023
09:39 AM
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Taxpayer is retired, has one rental property, spends little time on it. Sch E sgow a net gain. Is that eligible for QBID?
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rbynaker
Level 14
02-16-2023
10:32 AM
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Does someone else spend time on it (on behalf of the owner)?
You'll find a spectrum of opinions on this. Some folks take the position that just about anything qualifies as a trade or business. The IRS came up with a safe harbor described here:
I'm somewhere in between. Probably one property with little involvement doesn't reach the level of trade or business.
