Section 199A qualified business income (QBI) deduction FAQs now include information on rental real estate.
Revenue Procedure 2019-38, issued in September, provides a safe harbor that allows certain interests in rental real estate to be treated as a trade or business for purposes of the QBI deduction.
The new FAQs, numbered 48 to 59, address questions related to eligibility for safe harbor and QBI deduction requirements for rental real estate businesses.