Anonymous
Not applicable

Investors & landlords

1st you have to determine if you are really renting it out or just splitting expenses.  if you are splitting expenses it is not QBI and I would say there's nothing to report and you are not entitled to depreciation.      here's a link to IRS Pub 527 which deals with home rental.   one criterion is that the rent is at fair market value. 

another is that there is a profit motive - see the pub renting out part of the property

without a profit there is no QBI deduction to begin with.  

 

https://www.irs.gov/forms-pubs/about-publication-527

next you have to look at the 250 hour requirement

Under the safe harbor, a rental real estate enterprise may be treated
as a trade or business for purposes of section 199A if at least 250 hours of services are
performed each taxable year with respect to the enterprise. This includes services
performed by owners, employees, and independent contractors and time spent on
maintenance, repairs, collection of rent, payment of expenses, provision of services to
tenants, and efforts to rent the property. Hours spent by any person with respect to the
owner’s capacity as an investor, such as arranging financing, procuring property,
reviewing financial statements or reports on operations, planning, managing, or
constructing long-term capital improvements, and traveling to and from the real estate
are not considered to be hours of service with respect to the enterprise. The proposed
safe harbor also would require that separate books and records and separate bank
accounts be maintained for the rental real estate enterprise