Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Oct 6, 2023 12:31:08 PM

I have a four-plex that I live in and rent 3 units. Do I qualify for QBI deduction?

I own a four-plex. I live in one unit and rent the other three. I do spent 250 hours maintaining it. Do I qualify for QBI? thanks.

0 7 958
7 Replies
Level 15
Oct 6, 2023 1:37:10 PM
Level 2
Oct 6, 2023 1:53:52 PM

Even though I live on the property? I wasn't sure if an owner occupied property with multiple unit would qualify.(thanks for responding!) 

Level 15
Oct 6, 2023 1:54:59 PM

You only occupy one unit so that should make a difference.

 

I'll page @Mike9241 for input.

Level 2
Oct 11, 2023 1:56:56 PM

Hi @Mike9241 can you please advise. thanks. 

Level 9
Oct 11, 2023 4:04:01 PM

If the property is located within the United States and you rent it out for the intention of making money,  then you qualify for QBI.

Level 2
Oct 15, 2023 11:28:22 AM

Yes I rent it out 3 units but I live in one. Does that make a difference?

New Member
Oct 15, 2023 11:40:10 AM

You do not use QBI for rental income. That is schedule E supplemental income and you are not a real estate professional.