- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Here is another question: We have not had any work done in the rental property last year or this year but if I had anything done, and not considered this a business, based on what we are reading we would not have to issue a 1099-MISC. But what if we picked this to be a QBI last year because the laws changed and we thought it could be more advantageous for the future (people were talking about a 20% reduction in taxes in some cases, which wasn't the case for us in 2018). This year I am planning to mark it "Not QBI" in case there are issues down the line in the future. Would that be a problem in the future because we picked QBI the first year the tax law was in effect?
‎February 16, 2020
6:58 PM