- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
your understanding may be wrong
The section 199A safe harbor does not apply to real estate enterprises that have triple net leases. However, triple net leases (NNN) do not automatically prevent a 199A deduction. A rental real estate enterprise can still be treated as a trade or business for the purpose of section 199A if the enterprise otherwise meets the definition of trade or business under section 162.
ask the partnership. either they don't know about the NNN limitation or they believe the activities qualify as a trade or business under section 162
you can not be forced to take the 199A deduction so to avoid it
box 20 info goes nowhere so don't enter it (do not check that box 20 had amounts unless there are amounts other than for 20Z. you'll come to a question about code Z for box 20 - answer no
you're done with QBI