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posted Jun 3, 2019 11:44:13 AM

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?

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Expert Alumni
Jun 3, 2019 11:44:14 AM

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

1 Replies
Expert Alumni
Jun 3, 2019 11:44:14 AM

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