plano real estate tax experts: Dallas TX - Can I take the QBI Deduction for My Rental Real Estate?
- 11/26/19 03:34 PM
In December of 2017, the Tax Cuts and Jobs Act (TCJA) introduced a new “Qualified Business Income Deduction” (QBID) under IRS Section 199A. The QBID provided a deduction of up to 20% of qualifying income on the tax return and has enabled taxpayer's who come to our Richardson, TX tax office to enjoy huge tax savings. This deduction was applicable to qualifying Schedule C, Partnership, and S-Corp Income.
Does income on Rental Real Estate qualify for the QBI Deduction? The answer is like many questions related to tax law is that it depends. Not all rental real estate income will qualify. … (0 comments)
In December of 2017, the Tax Cuts and Jobs Act (TCJA) introduced a new “Qualified Business Income Deduction” (QBID) under IRS Section 199A. The QBID provided a deduction of up to 20% of qualifying income on the tax return and has enabled taxpayer's who come to our Richardson, TX tax office to enjoy huge tax savings. This deduction was applicable to qualifying Schedule C, Partnership, and S-Corp Income. 
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