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do i qualify QBI for renting a room in my primary residence?
i rent out a room in my own primary residence, certainly i will not qualify with safe harbor as the time required for this activity is too much to meet, however turbo tax latter suggest if this is in US, and is continuous for profit, which i interpreted as this room i rent is in US and i rent it out continuously with fair market price, and since my rental income is higher than expenses can be deducted, so it has profit. then i want to know would this mean i am qualify for QBI?
i also see if not qualify safe harbor, it will get very high audit risk by IRS, so do you think it really worth the risk to use QBI to save 20% taxable rental income?
‎July 17, 2022
10:00 PM