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Investors & landlords
Carl mentioned having a rental profit for about the past 3 years.
The IRS presumes that an activity is engaged in for profit if it had profit in 3 of the last 5 years. Engaged in for profit generally is a major attribute in determining trade or business status. The QBI deduction applies to a trade or business.
The IRS presumes that an activity is engaged in for profit if it had profit in 3 of the last 5 years. Engaged in for profit generally is a major attribute in determining trade or business status. The QBI deduction applies to a trade or business.
‎June 4, 2019
1:07 PM