QBI Safe Harbor election question. In the 199A revenue procedure it states, the 250 hour rental services requirement applies year-by-year for 2018 through 2022. For 2023 and later, you satisfy the requirement if 250 or more hours of services are performed in any three of five consecutive years ending with the current year.
The statement above is a bit confusing to me. Can I begin using this election this year for my 2021 taxes or did I need to start the QBI safe harbor election in 2018, 2019 and 2020? or can I start using the QBI safe harbor election from this point forward?
