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April 15, 2023
Question

QBI Status for Rental Property

  • April 15, 2023
  • 1 reply
  • 0 views

If you claim QBI deduction in one year for rental property, can you change to not claim QBI deduction the next year (or vise versa)? Or do you have to be consistent year over year?

I ask because if there is income reported, then claiming QBI can help reduce your taxable income. However if there is loss it may be more advantageous to not claim QBI status? 

    1 reply

    April 15, 2023

    If the actual eligibility changes, yes, you can change.  But you can't change it merely based on if it is beneficial or not.