I have five residential rental properties and consider them grouped as one 'Real Estate Enterprise.' For QBI Deduction, with my one Real Estate Enterprise, is it 250 hours for the single Enterprise or 250 hours for each rental?
If 250 for all five properties, as I enter each property on Sch E, should I key the actual work hours for that specific property even though one property is 100 and another is 175 (not 250)? I have # hours, description, date, and who performed on each property that, together, total 250+. I feel like I meet QBI but not sure what numbers to key.
