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Get your taxes done using TurboTax
Thanks Sam,
I've read the criteria for that safe harbor and the other safe harbor (rp 2019-38) that allows you to combine multiple properties into one "enterprise".
My question was not about the criteria to qualify to take the safe harbor or the QBI Deduction. I have several rentals, I'm sure I qualify (especially using the second safe harbor).
My question is, if I state that my rental income is Qualified Business Income (e.g. a business) to take the 20% deduction, will I then owe self-employment taxes on the rental income?
If you have any link or document that answers that question, I'd really appreciate it. Fyi, I called TT two days ago and asked to talk to a CPA or Enrolled Agent. They said one would call me back within 24 hours. :(
Thanks!