I have treated assets used across two rental properties as deductions to the general LLC rather than against a specific 8825 form. These rental incomes would not be QBI if a profit. The net effect is to create a negative self employment income on the K-1. Part 111 line 14. This obviously lowers the QBI within H&B return. Is placing the assets under one of the 8825's the only correction available ? Or is it better to not take the 179 ? The recapture of deferred depreciation will be spread out over a longer time when the second property becomes profitable again.
