QBI

Forum|Forum|2 years ago
March 25, 2024
1 reply
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I sold some rental properties over a 10 year period. Does the Interest paid on these sales qualify for QBI?

Mike9241

Lee1200rAuthor

Why it's not capital gains or section 1231 gains.

it's ordinary income from the sale of business property, it should qualify as QBI Income.

ThomasM125

I think you are referring to the interest income you receive on mortgages you hold from the sale of your rental properties. This would not qualify as business income since it is not associated with a business you currently own. It is simply interest on money you loaned to the mortgagee. As such it will be reported on your personal Form 1040, not on a business schedule. Thus, it is considered personal income not business income.

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