Rental activities qualify for new tax break
$225.00
Description
Abstract: The Tax Cuts and Jobs Act (TCJA) created a significant new tax deduction for qualified business income (QBI) for so-called “pass-through” entities for 2018 through 2025. But it also created uncertainty about whether owners of rental real estate were eligible for the deduction. This article reviews recent IRS guidance addressing this gap, including a proposed safe harbor that allows certain real estate enterprises to qualify as a business for purposes of the deduction.
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