Question

QBI Documents

Forum|Forum|1 year ago
March 20, 2025
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I am using TurboTax business for taxes for a trust. The trust has two rental properties. I mark that the income from each property qualifies as QBI. The rental properties appear as property A and property B on the Schedule E. TurboTax business uses only the information from Property A to create the QBI Deduction Information worksheet.

Is this right? Shouldn't there be a worksheet for each property?

TurboTax Business Windows

PatriciaV

Yes, there should be a Schedule E Worksheet for each property. You may need to review the QBI Deduction Info section on that worksheet to be sure 1) there are no form errors and 2) that one property is not assigned to a Real Estate Enterprise (RRE). The box for this appears under Line A of this section. Assigning an RRE would combine the activity into one property for QBI purposes.

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G

gnogaAuthor

Thanks for your help.

Does it need to be a separate Schedule E for each or can you list them as property A, B, C on a single Schedule E?

PatriciaV

The Schedule E worksheets are separate for each rental property. But Schedule E reports all rental/royalty properties on page 1 (although you may have more than one "page 1" if you have more than three rental/royalty properties).

Likewise, each rental property has a separate QBI Component Worksheet. But the information for each property appears on Form 8995 as a separate row under Line 1.

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