Deductions & credits

It depends.  If you believe one of the rental properties is somehow different and doesn't rise to the level of a trade or business as defined next, then you can make a decision to exclude one property. However, if you are making the decision to increase your qualified business income deduction (QBID) without foundation, then you should include all or none.  See the information in the Revenue Procedure next.

Rental real estate does not always rise to the level necessary for the qualified business income deduction (QBID).  The second notice, produced by the IRS, defines more clearly about the safe harbor on page 5 of Revenue Procedure 2019-38 and helps you to understand the required record keeping to qualify for QBID.

1. Select to Edit or Review beside each rental property > Scroll to LESS COMMON SITUATIONS > Select QBI
2. You see the aggregation screen if you indicated that your taxable income might exceed certain levels. Otherwise, the "aggregation" screen does not appear. (It's not necessary to aggregate)
3. If you do not select either safe harbor methods the next screen will ask you if this is qualified business income. If you select 'Yes' then TurboTax will do the calculations. 
   • Be sure to select and read the link "More Info about what's considered a qualified business" before you answer.
4. See the images below.