Switch from rental management company to self-management

[George223]

I have a rental. It was managed by a management company for half the year. The rest of the year, I managed it myself. Can Turbotax include the change from management company to self-management when filling for me to use the Qualified Business Income deduction for half the year?

[RobertB4444]

In order to change from a non-qualified business to a qualified business you will probably have to close the first business and move everything to a second business.  There isn't really a way for the system to differentiate the expenses otherwise.  So you will just transfer everything to a second, qualified business for the second half of the year.

@George223 

[RP777]

I have a similar situation with self-managing only for the last two months of 2024.  I have never had a registered business (LLC or S-corp).  Can I include the last two month's rent along with the management company income (reported on 1099-MISC) to show the total income?  Or do I still have to separate the two?  Also, I didn't spend 750 hours or 50% of your time on this rental.

[RP777]

This was answered by @MarilynG1 in another thread.  Thanks!