turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

dana3
New Member

Does my business as a real estate appraiser qualify for SSTB?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
KrisD
Intuit Alumni

Does my business as a real estate appraiser qualify for SSTB?

No, real estate is not a SSTB and therefore not subject to the same income limitations. You are eligible for the section 199A deduction or the deduction for qualified business income.

Additionally, only financial brokers, not real estate brokers, are on that list. 

According to the IRS:

"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees. This exception only applies if a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers"

View solution in original post

5 Replies
KrisD
Intuit Alumni

Does my business as a real estate appraiser qualify for SSTB?

No, real estate is not a SSTB and therefore not subject to the same income limitations. You are eligible for the section 199A deduction or the deduction for qualified business income.

Additionally, only financial brokers, not real estate brokers, are on that list. 

According to the IRS:

"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees. This exception only applies if a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers"

dana3
New Member

Does my business as a real estate appraiser qualify for SSTB?

Real estate appraisers are not real estate brokers. We provide a valuation service, which I am curious if that would fall under the "financial section".  Obviously, if you have income from real estate sales or brokerage, that income would need to be excepted.
KrisD
Intuit Alumni

Does my business as a real estate appraiser qualify for SSTB?

I just added the part about a broker, because people are a little confused about that and they might look at this answer. No, threw it out there for my colleagues to verify, NOT sstb.
dana3
New Member

Does my business as a real estate appraiser qualify for SSTB?

ok, thanks.

Does my business as a real estate appraiser qualify for SSTB?

where do I find 199A?

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies