If you meet these tests, you may qualify to take
the Qualified Business Income (QBI) deduction under the "Conventional Rental IRS Notice
2019-07 Safe Harbor Test",
below. To claim the new QBI deduction, you need to select the button in
the rental interview that says you qualify to take it.
Conventional
Rental IRS Notice 2019-07 Safe Harbor Test:
1) On a regular basis,
does the taxpayer consult with advisors, negotiate and execute leases, consult
with or act as property managers or personally maintain, manage or supervise
the rental activity of the above property, and does this activity continue
throughout the year?
2) Does the
taxpayer, employees, agents or independent contractor of the taxpayer
spend at least 250 hours annually (per property) dealing with the advisors, managers or
personally with tenants, repair or maintenance companies or on-site issues?
3) Does the taxpayer
maintain contemporaneous (i.e. "at the time of occurrence") written calendar
time records to prove the above
regular, continuous activity?
4) The taxpayer must
include a signed statement with the return that they meet the requirements of
this procedure
