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Investors & landlords
the safe harbor specifies certain criteria all of which must be met to qualify. TurboTax does offer the electronic version of the election just enter "safe" - no quotes in the form search box. the election must be included each year you want it to apply. the advantage is if you qualify and make the election, the IRS can't challenge the treatment of your real estate as a trade or business.
‎February 22, 2021
1:40 PM