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February 8, 2024
Question

Can we change rental property from safe habor designation

  • February 8, 2024
  • 1 reply
  • 0 views
remove safe habor designation

1 reply

PatriciaV
Employee
February 8, 2024

Yes, you can remove one or more rental properties from a Safe Harbor Election from the Rental Properties topic in TurboTax.

 

Navigate to the list of Rental & Royalty Properties. Choose the property you need to work on. Continue to the Rental Summary screen. Scroll to the bottom and click Done With Rental Property.

 

Follow the prompts until you see "Let's see if you're eligible for the QBI safe harbor." You have several options listed, including "No, I don't or can't (common)." Clicking this choice will eliminate the Safe Harbor Election from your return. You are still able to report this property for QBI if you wish.

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