I am a real estate professional with a rental building I own called "Building XYZ". For rental and royalty, I marked that I spend 750 hours and 50% work related in real estate.
The system asks me if I am "eligible for QBI safe harbor. I marked, Yes, just for "Building XYZ" only. I mark the description as investment property - Residential type. I mark the business name "My actual name".
When I go to pdf version of the return, the system has marked form 8995 Qualified Business as "Enterprise #1" rather than "My actual name". This is not owned by an enterprise, just a single member sole prop (myself). I realize I can go into the forms section and change the name from the form called "QBI component" from "Enterprise #1" to "My actual name" which will then automatically update Form 8995 as well; however the system still generates a "Section 199A" Real Estate Enterprise statement called "Enterprise #1.
Is it correct to leave it like this even though the rental building is not an enterprise and should be reported under "My actual name"?
