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Investors & landlords
Champ,
Another item TT did not handle properly for me was the QBI deduction. I input that I was not eligible for the QBI safe harbor and then the next screen appeared ...
However, TT did not provide me with enough info to decide how to answer. So I did some research and found the following which confirms I am not eligible ...
Real estate activities are not considered a trade or business if real property is used as a residence as defined in Sec. 280A (i.e., it is used personally by an owner for a number of days that exceeds the greater of 14 days or 10% of the number of days during the year in which the property is rented at a fair rental)
https://www.journalofaccountancy.com/issues/2019/aug/qbi-deduction-for-rental-real-estate.html
‎January 19, 2022
7:14 AM