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Qualified Business Income Deduction
Do I qualify for a Qualified Business Income deduction? I have two condos that I have rented out for years. I have a property manager who manages the rental of these condos. The property management company is an LLC. We do meet the requirement of 250 hours of active management of the condos over three years in a five year period. After reading the summaries online and in Turbo Tax, I do believe that I can take the deduction. Please advise.
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March 21, 2023
5:12 PM