My wife and I own 5 rentals in California and Texas. We fully manage these rentals by ourselves. This includes repairs, maintenance, periodic inspections, travel, finding tenants, paying bills & taxes, etc. We do not have a registered business entity for our rentals. Our main source of income is from the rentals and we have no other employment.
In 2018 Turbotax Premier there is a question for each rental property whether it is a Qualified Business Income. Even though I have read the help material available in Turbotax, I'm still not sure how to answer this question. We have 100% ownership of these properties.
How should we answer this question and how does our answer affect our taxes?
Thank you!
