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Get your taxes done using TurboTax
Yes, you have described the type of services that qualify for the 250 minimum hours.
Rental services can be performed by the owners or by their employees, independent contractors, or agents and would include things like:
- General operation, maintenance, and repair of the property
- Purchasing materials
- Property management activities
- Supervising employees and contractors
- Advertising the property for rent
- Tenant selection and background checks
- Negotiating and executing leases
- Collecting and depositing rent
Activities excluded from the definition of rental services include:
- Time spent traveling to and from the property
- Reviewing financial statements or operational reports
- Financial or investment management (for example, financing)
- Procuring or acquiring property to rent
- Planning, managing, or constructing long-term capital improvements.
See this TurboTax article for more information: Can I get the QBI deduction on rental income?
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‎April 16, 2024
1:52 PM