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Updated over 6 years ago, 06/04/2018

User Stats

78
Posts
42
Votes
Wai Chan
  • Rental Property Investor
  • San Diego, CA
42
Votes |
78
Posts

20% pass through deduction for rental income

Wai Chan
  • Rental Property Investor
  • San Diego, CA
Posted

If me and wife own a piece of rental property (joint tenants and not under any LLC), does it consider as pass through entity? When we file tax jointly next year, can we claim the 20% pass through deduction for the rental income. I am not sure the definition of partnership mentioned as below. Is joint tenants a type of partnership?

This is a snippet of the article I read online:
>>
For landlords, the most stunningly good provision of the TCJA is a new tax deduction for owners of pass-through businesses. This includes the vast majority of residential landlords who own their rental property as sole proprietors (who individually own their properties), limited liability companies (LLCs), and partnerships. With these entities, any profit earned from the rental activity is “passed through” to the owner or owners’ individual tax returns and they pay tax on it at their individual income tax rates.

Thanks.

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