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jrock
Returning Member

Job transfer to 2d city. rented out home in 1st city, does that qualify as 'qualified business income'?

Job transfer to Savannah, GA. Own home in Indianapolis, now rented out.  Not making any profit, as rental income equals mortgage + association fee + 100.00.  Do I claim that as '

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1 Reply
Carl
Level 15

Job transfer to 2d city. rented out home in 1st city, does that qualify as 'qualified business income'?

It "could". The IRS rules are grey in that area. But in your specific case I seriously doubt it would qualify for QBI since you were "out of town" and therefore could not be engaged in the management of the property on a regular and recurring basis.

Check out the "final regulations" on this at https://www.irs.gov/newsroom/treasury-irs-issue-final-regulations-other-guidance-on-new-qualified-bu... and you'll see for yourself how this area is rather "grey" overall.

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