My real estate rental income is all passed through from K-1's from limited partnerships. I am a limited partner for most of the income, but a general partner for some. Is TurboTax automatically giving me the 20% discount on my rental income now that the IRS allows it? Does it matter if I am a limited partner?
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It does matter if you are a limited partner. Your income as a limited partner is not considered business/self-employment income and will not be eligible for QBI deduction.
It does matter if you are a limited partner. Your income as a limited partner is not considered business/self-employment income and will not be eligible for QBI deduction.
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