Question

I have a rental property for 7 years, mostly with small profit due to depreciation, is it considered QBI?

I have a rental property for 7 years, mostly small profit including depreciation, it is considered QBI instead or Schedule E? Thanks

What are the benefits in tax for QBI?

Is it new law for 2018?

QBI is a brand new deduction starting in 2018. Generally, a single rental property won't qualify for the deduction. Please check out https://ttlc.intuit.com/questions/4557531-can-i-get-the-qbi-deduction-on-rental-income for more information.

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