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Investors & landlords
It is not a software error. The reason is because there are two questions that must be answered before TurboTax makes a final determination as to whether you believe your rental real estate activity meets the requirements to utilize the qualified business income deduction (QBID).
- Open your TurboTax return > Search (upper right) type rentals > Press enter > Click the Jump to ... link
- Edit next to your rental activity > Scroll to Qualified Business Income > Edit/Update >
- Select 'None of the above' on the Real Estate Professional page
- Continue to the page Do you want to use a safe harbor.... Select 'None of these apply' > Continue
- Select 'No', on the page Is this Qualified Business Income?
- OR
- Open your TurboTax return > Search (upper right) type Qualified business income deduction > Press enter > Click the Jump to ... link
- Arrive at the QBID section to answer the questions shown above
Once this is completed, you should not have any statement included with your tax return.
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‎April 14, 2021
1:27 PM