turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Extension Filers on Sept 25! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

tantawi28
New Member

I have several rental properties under my personal name (not a business). I bought them to make money and equity. I alone manage them. QBI eligible? Does it matter?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DanielV01
Expert Alumni

I have several rental properties under my personal name (not a business). I bought them to make money and equity. I alone manage them. QBI eligible? Does it matter?

Yes, these properties are likely QBI eligible.  For a rental property to be eligible for the Section 199A deduction, the activity must rise to the level of a business according to IRC Code 162.  Prior court cases have established that if the rental activity is a for-profit endeavor, it does rise to the level of a business.  Usually this is the case if you are renting the properties at fair rental value for your area.  

For more information, please see this FAQ:  https://ttlc.intuit.com/replies/7122193

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
DanielV01
Expert Alumni

I have several rental properties under my personal name (not a business). I bought them to make money and equity. I alone manage them. QBI eligible? Does it matter?

Yes, these properties are likely QBI eligible.  For a rental property to be eligible for the Section 199A deduction, the activity must rise to the level of a business according to IRC Code 162.  Prior court cases have established that if the rental activity is a for-profit endeavor, it does rise to the level of a business.  Usually this is the case if you are renting the properties at fair rental value for your area.  

For more information, please see this FAQ:  https://ttlc.intuit.com/replies/7122193

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies