topic Does my business as a real estate appraiser qualify for SSTB? in Business & farm

Does my business as a real estate appraiser qualify for SSTB?

dana3 — Tue, 04 Jun 2019 20:45:48 GMT

No, real estate is not a SSTB and therefore not subject t...

KrisD — Tue, 04 Jun 2019 20:45:49 GMT

No, real estate is not a SSTB and therefore not subject to the same income limitations. You are eligible for the section 199A deduction or the deduction for qualified business income.

Additionally, only financial brokers, not real estate brokers, are on that list.

According to the IRS:

"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees. This exception only applies if a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers"

Real estate appraisers are not real estate brokers. We pr...

dana3 — Tue, 04 Jun 2019 20:45:51 GMT

Real estate appraisers are not real estate brokers. We provide a valuation service, which I am curious if that would fall under the "financial section". Obviously, if you have income from real estate sales or brokerage, that income would need to be excepted.

I just added the part about a broker, because people are...

KrisD — Tue, 04 Jun 2019 20:45:53 GMT

I just added the part about a broker, because people are a little confused about that and they might look at this answer. No, threw it out there for my colleagues to verify, NOT sstb.

ok, thanks.

dana3 — Tue, 04 Jun 2019 20:45:54 GMT

ok, thanks.

Re: No, real estate is not a SSTB and therefore not subject t...

ewanley101 — Wed, 17 Jun 2020 07:51:30 GMT

where do I find 199A?