QBI Documents

Forum|Forum|1 year ago
March 20, 2025
7 replies
289 views

I am using TurboTax business for taxes for a trust. The trust has two rental properties. I mark that the income from each property qualifies as QBI. The rental properties appear as property A and property B on the Schedule E. TurboTax business uses only the information from Property A to create the QBI Deduction Information worksheet.

Is this right? Shouldn't there be a worksheet for each property?

TurboTax Business Windows

PatriciaV

Level 15

Yes, there should be a Schedule E Worksheet for each property. You may need to review the QBI Deduction Info section on that worksheet to be sure 1) there are no form errors and 2) that one property is not assigned to a Real Estate Enterprise (RRE). The box for this appears under Line A of this section. Assigning an RRE would combine the activity into one property for QBI purposes.

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gnogaAuthor

Level 2

Thanks for your help.

Does it need to be a separate Schedule E for each or can you list them as property A, B, C on a single Schedule E?

gnogaAuthor

Level 2

Yes, you can add as many rental properties as you need for a Form 1041 trust using TurboTax Business. Follow the input page from Federal Taxes >> Income >> Rental and Royalty Property >> Start/Update. Note the blue box for "Add another Schedule E form" under the list of properties that have been already entered.

Your entries under this topic will the appropriate entries on Schedule E for each property and a separate QBI Component worksheet. TurboTax Business does not create a Schedule E Worksheet in a trust return.

Thanks.

How do I transfer the property and all of its asset worksheets to the new Schedule E document?