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Investors & landlords
Let's go through each part to ensure your proper credit.
- You must have positive income after all of your deductions. Verify that your sch E shows a profit on the house.
- You must spend at least 250 hours per year on the rental service. If you have been doing this longer than 4 years, it must meet 3 out of 5 years rule. Verify that you selected you qualify for the QBI deduction.
Reminder: Contemporaneous records of services performed are kept which includes who performed the service, description of service, the date of the service, and how long it took (who, what, when, and how long for the 250+ hours of service. from Can I get the QBI deduction on rental income?
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March 5, 2025
8:25 AM