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Get your taxes done using TurboTax
Yes, if you are managing these rental properties that you own and have a profit, they qualify for the Qualified Business Income Deduction. You do not have to have a registered business entity to claim the deduction.
It will affect your taxes by giving you a deduction of 20% of your profit to arrive at your Taxable Income. You will see this on line 9 of your 1040.
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‎June 3, 2019
1:15 PM