topic Should I aggregate rental prop to single enterprise to Q for 250 hrs svc ? I have several rental properties and spend over 250 hours in total for them but not on each. in Investors & landlords

Should I aggregate rental prop to single enterprise to Q for 250 hrs svc ? I have several rental properties and spend over 250 hours in total for them but not on each.

MJSilva78 — Fri, 02 Apr 2021 12:53:00 GMT

TT is not allowing me to e file because 8995-A is not ready...when will it be ready?

Re: Should I aggregate rental prop to single enterprise to Q for 250 hrs svc ? I have several ren...

Irene2805 — Fri, 02 Apr 2021 13:38:59 GMT

Form 8995-A is available in both the online and CD/download versions of TurboTax. If you are using the CD/

Download version, please make sure your software is up-to-date.

Aggregating your rental properties is a good way of meeting the 250 hours of rental services requirement. Please see the following articles for additional information:

Re: Should I aggregate rental prop to single enterprise to Q for 250 hrs svc ? I have several rental properties and spend over 250 hours in total for them but not on each.

Carl — Fri, 02 Apr 2021 17:31:41 GMT

While aggregating multiple rental properties into a single enterprise is a good way to qualify for the QBI, just be aware of the things on the "con" side of the pros and cons for this.

- Typically and most common, you can not realize any carry forward losses until you sell or otherwise dispose of "all" properties and assets in the aggregate.

- Once you aggregate, you can't go back. You're required to continue to aggregate all properties in that initial aggregation in all future tax years.

- You can add properties to the aggregate in future years, but you can't remove properties from the aggregate unless you sell or otherwise dispose of a property in a way that you no longer own it. SO if you sell one property and remove it from the aggregate, it's perfectly possible you'll no longer qualify for the QBI. But you still have to maintain the remaining properties in the aggregate.