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February 27, 2023
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I am being asked for numbers on my 2022 Schedule E worksheet for rental property. Where on the 2017, 2028, 2019, 2020, and 2021 forms is "QBI Passive OP loss" numbers?

  • February 27, 2023
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Best answer by mglauner

If you qualified for a QBI Deduction, look for Form 8995 in your prior year returns.  This will flow to Line 10 on Form 1040. 

 

Rental activity does not automatically qualify for the QBI Deduction. 

 

Rental properties are usually treated as passive activities, and passive activities are excluded from the definition of a qualified trade or business. However, rentals that qualify as trades or businesses under IRC § 162 are not considered passive, which means they could potentially qualify for the QBI deduction.

 

Here's detailed info on the Qualified Business Income (QBI) Deduction  and QBI for Rental Activity. 

 

 

 

 

 

 

1 reply

mglaunerAnswer
February 27, 2023

If you qualified for a QBI Deduction, look for Form 8995 in your prior year returns.  This will flow to Line 10 on Form 1040. 

 

Rental activity does not automatically qualify for the QBI Deduction. 

 

Rental properties are usually treated as passive activities, and passive activities are excluded from the definition of a qualified trade or business. However, rentals that qualify as trades or businesses under IRC § 162 are not considered passive, which means they could potentially qualify for the QBI deduction.

 

Here's detailed info on the Qualified Business Income (QBI) Deduction  and QBI for Rental Activity. 

 

 

 

 

 

 

February 27, 2023

Thank you, @mglauner