jbsocal
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Qualified Business Income Deduction is a new law that applies starting 2018.
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Rentals don't have to represent your primary source of income to be considered a trade or business. They merely have to be engaged in for profit and any net pro...
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Rents received are considered gross receipts, not income. Rental income is the net amount after rental expenses are deducted. That net may be considered Qualifi...
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Ok, we're close. I agree that claiming the QBI deduction is stating it's a trade or business. The IRS offers trade or business status to an activity with at lea...
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One other comment. If a person has a "history" of not filing F1099s, how is the Safe Harbor going to protect them from penalties for not filing F1099? Claiming ...
Activity Feed for jbsocal
- Got Cheered for 250 hours of activity is NOT REQUIRED for rental property.... January 15, 2021 5:50 PM
- Got Cheered for Unless your rental activity is very unusual, I suggest NO.... January 15, 2021 5:50 PM
- Got Cheered for I was accurate about loss carryovers. IRS comments (in pa.... January 15, 2021 5:49 PM
- Got Cheered for Less than 250 hours may qualify. Per IRS 1-18-19: This in.... January 15, 2021 5:48 PM
- Posted Qualified Business Income Deduction is a new law that app... on Investors & landlords. June 4, 2019 1:08 PM
- Posted Rentals don't have to represent your primary source of in... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Rents received are considered gross receipts, not income.... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Ok, we're close. I agree that claiming the QBI deduction... on Investors & landlords. June 4, 2019 1:07 PM
- Posted One other comment. If a person has a "history" of not fil... on Investors & landlords. June 4, 2019 1:07 PM
- Posted TaxGuyBill, if you say there's no excuse for not filing a... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Not filing a F1099 may merely mean that the requirement t... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Bodie7 stated, "Hard to prove if the PM's put in 250 hour... on Investors & landlords. June 4, 2019 1:07 PM
- Posted If you're not sure the 250 hrs can be proven, I sure woul... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Unless your rental activity is very unusual, I suggest NO... on Investors & landlords. June 4, 2019 1:07 PM
- Posted 250 hours of activity is NOT REQUIRED for rental property... on Investors & landlords. June 4, 2019 1:07 PM
- Posted I was accurate about loss carryovers. IRS comments (in pa... on Investors & landlords. June 4, 2019 1:07 PM
- Posted It's fortunate that 250 hours are not "required" but is a... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Add'l comment: I believe I recall reading that the IRS wi... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Carl, I noticed that in your question you said you rent "... on Investors & landlords. June 4, 2019 1:07 PM
- Posted Carl mentioned having a rental profit for about the past... on Investors & landlords. June 4, 2019 1:07 PM