topic Re: Remove Section 199A Safe habor statement in Deductions & credits

Remove Section 199A Safe habor statement

Anonymous — Tue, 13 Apr 2021 08:41:20 GMT

Hello

I am renting a portion of my only primary home that i live in and gained rental income with a normal salary job (no other income besides salary and rental). I then finished Turbotax for 2020 year and I noticed the Section 199A Rental Real Estate Safe Habor statement. I never checked this but it was generated. I am not sure if this is related to Form 8995A for QBI but I got QBI from box 5 on a 1099-DIV form.

I tried to go through the easy step-by-step back to the moment it asks for QBI for rent and I said no. However I got this form. That form contains "250 or more hours of rental services were performed with respect to the rental enterprise" and "The property was not used as a residence for any part of the year" and I do not qualify so I do not want it in the document.

I tried to delete the form and it doesnt come back using

https://ttlc.intuit.com/community/taxes/discussion/how-do-i-remove-the-section-199a-rental-real-estate-safe-harbor-statement/01/1847699#M659108

But this only deletes the form, and it doesnt come back. I am not sure if that is ok.

When i go to end of the federal summary I see QBI with company "n/a" not sure if that is right either.

Is it ok to just delete the form and send it to the IRS?

Re: Remove Section 199A Safe habor statement

ThomasM125 — Tue, 13 Apr 2021 23:40:51 GMT

Since you have qualified business income deduction (QBI) associated with your dividends, you will have a form 8995 generated to account for the dividends. So, if you delete that form it may increase your income tax.

If you don't want to treat the rental income as QBI income, you can review the rental income section and look for that option towards the end of the routine and simply indicate that the rental income is not QBI.

Re: Remove Section 199A Safe habor statement

Anonymous — Tue, 13 Apr 2021 23:53:15 GMT

I already marked my rental income not to be QBI which is why i assume it was generated for the dividends so i dont think i can delete it. I was mainly talking about the 199A safe habor statement that requires me to sign that i don't live at the property which is clearly wrong. I marked no but it was generated. I deleted it later and made sure i didnt have it checked and it hasnt reappeared, I am hoping that deleting it is fine.

Re: Remove Section 199A Safe habor statement

ThomasM125 — Wed, 14 Apr 2021 00:07:51 GMT

You should be OK then. Even if the form was included, it has no significance since you are not treating the rental income as QBI.

Re: Remove Section 199A Safe habor statement

Anonymous — Wed, 14 Apr 2021 00:12:36 GMT

Thank you, i can finish off my taxes now.

Re: Remove Section 199A Safe habor statement

Reeba412 — Mon, 20 Sep 2021 20:31:10 GMT

How do I remove safe harbor? I want to file online.