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Get your taxes done using TurboTax
First, make sure that you don't qualify; see
- Qualified Business Income Deduction | Internal Revenue ...
- What is QBI? IRS newsroom
- QBI FAQ
- Can I get the QBI deduction on rental income? by TurboTax
Rental property is assumed to be qualified for QBI if personal rental, not corporation, in the US with expectation of making money.
Second, go back to the rental property.
- Click the edit or update
- Income from Rentals you own- click yes
- Answer real estate professional question, continue
- See rental property, select Edit
- Then scroll to bottom and click done with property
- A couple more questions to get to safe harbor question, continue
- Is this qualified business income? (Ask yourself, in the US, plan to make money? Corporation or personal?) probably a yes, continue
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‎February 1, 2021
7:44 PM