Qualified Business Income

[Mark Forest]

This is what I get for not doing my taxes earlier.

I use Turbo Tax and the program just asked me if my SFH properties are Qualified Business Income or not. The help post at Turbo Tax seem to say no, while the CPA who called me from Turbo Tax said yes. What are you all doing? I have several SFH where I am actively involved in that whenever there is a problem I respond to repair the issue. I do NOT have a PM. I receive rent checks and deposit them in my bank. So do I declare that this is Qualified Business Income or not? I HATE THE IRS!!!

[Christopher Smith]

I have several SFHs, and I am claiming full QBI benefits. Whether you have a manager or not probably isn't even relevant because you get to count any "agent" time (my PM is my agent, so his involvement counts as my involvement). I also use Turbo Tax and had no problem with it.

Just pure speculation here, but I get the sense that what they don't want are people claiming QBI benefits for things like Triple Net Leases (i.e., where the tenant, as opposed to you, your agent or your contractors is responsible for conducting most lease related activities).