199A for Partnership that self rents 75% of property

CHM93 — Thu, 10 Sep 2020 22:48:48 GMT

My Partnership (all commercial real estate) rents 75% of the property to a related party that operates a restaurant. Can I allocate expenses 75%/25% and take the QBI for the income and expenses attributable to 75% of property rented to a related party? In this case the 25% was vacant for the majority of the year so that portion of the property operated at a loss when expenses were allocated on square footage. Can the QBI be greater than the net income from the property for the year?

Re: 199A for Partnership that self rents 75% of property

mellish7777 — Thu, 10 Sep 2020 23:34:07 GMT

Was it rented at FMV to this related party?

Re: 199A for Partnership that self rents 75% of property

CHM93 — Thu, 10 Sep 2020 23:40:57 GMT

yes, thanks!

topic 199A for Partnership that self rents 75% of property in Business & farm

199A for Partnership that self rents 75% of property

Re: 199A for Partnership that self rents 75% of property

Re: 199A for Partnership that self rents 75% of property