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After you file
Yes. you can delete it because you choose to have that deduction. It is beneficial to you if you qualify for the QBI deduction. So no loss to the government. I suggest going back through the interview section of rental property to answer no that your property does not qualify for the QBI deduction so that it will not generate again.
Qualified business income, or QBI, is the net income generated by any qualified trade or business under Internal Revenue Code (IRC) § 162.
Rental properties are usually treated as passive activities, and passive activities are excluded from the definition of a qualified trade or business. However, rentals that qualify as trades or businesses under IRC § 162 are not considered passive, which means they could potentially qualify for the QBI deduction.
To provide preliminary guidance to this popular question, the IRS released Notice 2019-07, the key points of which we've summarized below.
Use this link for additional information: QBI Deduction on Rental Property
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