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Yes but the mechanics of this quasi 20% deduction is still unclear and until some regs come out all we can do is speculate ... I look forward to seeing how this messy code section will be explained and the forms/worksheets it will produce.
Yes but the mechanics of this quasi 20% deduction is still unclear and until some regs come out all we can do is speculate ... I look forward to seeing how this messy code section will be explained and the forms/worksheets it will produce.
It is still unclear if rental property qualifies as a "Trade or Business" for the 20% reduction that was enacted by the new law.
Hopefully the IRS will clarify within the next few months.
However, many people, including Continuing Education Providers for tax professionals, have been asserting that rentals do qualify. But again, we will need to wait for the IRS to clarify the matter.
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