I am retired with 1 rental home which I 100% manage. Last year I had my taxes done by a CPA and noticed there is a Qualified Business Income Deduction on form 8995 and my 1040.
My understanding is there are two guidelines on doing a Qualified Business Income Deduction for rentals and one should be selected.
1) I declare Rental activity is a trade or business under the safe harbor rules for qualified business income.
2) I declare the rental qualifies for the Qualified Business Income Deduction without the safe harbor election.
From my last year tax forms how can I tell which option my CPA made in order to take the Qualified Business Income Deduction?
