there is nothing improper or wrong about reporting each rental property as a separate enterprise on the 8995. the other option is to aggregate all rental properties except that commercial can not be aggregated with residential. aggregation may have no effect on your taxes. However, if you aggregate certain additional info must be provided each year (((((( Reporting and consistency requirements
Regs. Sec. 1.199A-4(c) provides the reporting and consistency requirements for aggregation by both individuals and RPEs. Unlike grouping elections under Sec. 469, aggregation under Sec. 199A must be disclosed annually for both individuals and RPEs even if there is no change in the trades or businesses aggregated. Specifically, a statement must be included with the return, in the case of an individual, or with each Schedule K-1, in the case of an RPE, reporting the following information for every trade or business in the aggregated group:
- A description of each trade or business;
- The name and employer identification number of each entity in which a trade or business is operated;
- Information identifying any trade or business that was formed, ceased operations, was acquired, or was disposed of during the tax year;
- Information identifying any aggregated trade or business of an RPE in which either the individual or upper-tier RPE holds an ownership interest; and
- Any other information as the IRS may require in forms, instructions, or other published guidance.))))))))))))))))))))).
whether to aggregate or not is beyond the scope of this forum. a professional who knows about this should be consulted and they'll need to look over each rental's operations if you decide to pursue this matter. note that the QBI deduction is set to expire after 2025. no one knows if this provision will be extended. once you aggregate you can not disaggregate unless there is a significant change in the facts and circumstances. other issues may arise if you own rental real estate activities through a relevant pass-through entity (RPEs) ie partnerships, trusts and S-corps.
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I won't comment on those tax experts - perhaps they only deal with C-corps.
