Based on the QBI REEE safe harbor rules I think I could elect to treat my rental income as QBI.
But are any of you planning to do this that already ran it by a CPA/accountant? I have some basic questions on how you would go about doing this.
Dumb questions are…
1. Do the properties need to be in any sort of holding entity like a LLC, scorp, etc ..or can they simply be held in your name or your trust’s name.
2. my preliminary understanding is you can treat all your property as one REEE or each property separately as REEE.
3. For a property that has a net loss after depreciation deductions, is it better to exclude this property as an REEE or include it? Which has a better tax outcome.
4. For a property not specified as a REEE for QBI this year, can I simply add it the following year assuming I meet the safe harbor rules for all my properties….
5.What are the rules for removing a propoerty from your REEE to have them not considered under QBI in years after….is it allowed.
