Hi,
I have multiple rental properties, and somehow one of them incorrectly got the Rental Real Estate Safe Harbor Statement generated for it.
Try try and troubleshoot, I've done this:
1) I've gone through and removed the property from QBI (answered the question that it does not qualify for QBI) but that didn't remove the Safe Harbor Statement from the final return. But, I do believe the property qualifies for QBI based on reviewing the TurboTax guidance which suggests that even without having documentation of 250 hours that (based on case history) some rental operations could still quality for QBI. But I don't want to sign the form that says I spent 250 hours because I don't have the time documented (and I don't think it'd reach that threshold).
2) I've removed the property from the aggregation of local rental properties. Not only did not not remove the Safe Harbor statement, but now I can't figure out how to add it back to the aggregation. Any advice on how to do this?
3) I changed my answer from yes to no for the question of materially participating, but this did not remove the Safe Harbor statement. The actively participate question is whether I own at least 10%, and that I made major management decisions for the property such as approving tenants and authorizing repairs (both of which are true).
None of my troubleshooting attempts have worked, so I'm turning to this community in the hopes someone can give me some tips.
Thanks in advance!
Alison
