Lee B

Because the QBL carries forward to the next tax year to reduce future QBI.

What are you doing creating an LLC ? Are you an attorney licensed to practice in CA? How are you going to create a customized operating agreement, which most banks require a copy ?

I attended this seminar prior to the release of the safe harbor notice. The safe harbor notice has completely flipped my understanding. Now I think that all of my rentals except one do not qualify. The one that might qualify is problematic because of the contemporaneous log requirement, which my client would be very unlikely to maintain.

This will give you a good overview: https://www.irs.gov/taxtopics/tc431 I find Pub 4681 to be a good resource with lots of examples.

This situation has been troublesome with ATX in recent years. However, is an 1116 even required in this situation ?

This is not a final reg

Drake included the cost of efiles when I purchased the software. Perhaps another user can answer your question about 1040 NR, since I don't prepare any.

Be very very careful and limit your potential risk as much as possible !

Are referring to Avast ?

This year will definitely be a challenge at many levels. I am sure we will all have moments when we suddenly realize we didn't know what we thought we did.

I was with ATX for 20 years, before I left for Drake last tax season. Every year there were form delays like this, so if you are an ATX user you learn to live with it. Sometimes certain state forms were not released until the end of February or the first few days of March. It is what it is

Still have to fill it in, because QBL is carried forward and reduces future QBI at the 1040 level.

i must be doing something wrong ? My postcard turned out to be multi page.

He didn't say per year. I assume he was referring to the length of the average rental. It sounds like a short term rental.

It depends, I can envision an IT business that is not an SSTB and one that is an SSTB. What exactly do they do ?

Weird, because there is nothing in the message that says or implies that it has anything to do with claiming EIC

All right, another challenge for hackers !

I don't do estate returns. Just wondering. does this blow the step up in basis ? Does an estate get the gain exclusion on the sale of a home ?

You have a real talent for embellishing your story

In this scenario, if the computer fixing happened simultaneously with being a restaurant employee, regs say the computer fixing is W -2 wages.

So, it's an out of state corporation doing business in LA ?

No, it has not been extended past 12/31/17. It is still part of a potential TCJA Technical Corrections/Tax Extenders Bill, which still shows no sign of movement in the current Congress.

Where is the business nexus, OH, LA, or both ? If the business moved from OH to LA, when ?

Simple solution - Set up a duplicate client and use the duplicate to calculate/keep track of book depreciation.

There are a number of specially enumerated provisions that make no sense other than real estate lobbyists with lots of money bent the ear of members on the Joint Committee on Taxation at the last minute and got special provisions written into the law for their wealthy clients. The qualification of REIT Dividends and PTP Income are just two of many. It is especially ironic because before the the TCJA was signed into law, all of the proponents were talking about what a great incentive this would be for real estate investors big and small. !