QBI Jurat attachment for rental real estate

[jklcpa]

I know that a signed statement is required when the taxpayer is relying on the safe harbor for QBI related to rental real estate.

Is the same true for those with rental real estate NOT relying on the safe harbor but that DOES qualify as a trade or business?  Do I have to have a signed statement attached?

If so, could someone point me to the requirements for that, or better yet, does anyone have a statement they'd be willing to share?  Not trying to reinvent the wheel here.

Thanks!

[DougO]

There is an election statement on the Elections form specifically for this Sec 199A rental situation.   Have used it a few times in the last couple of weeks.   You need to print it out, get it signed, create a PDF and attach to the efile forms for filing.

[jklcpa]

Yes, thank you.  I use Drake and found it on the input screen for generating page 1 of Sch E. My client and wife are each 50% owners, together own 100% of their LLC for a commercial strip shopping center. I don't see how to generate this for the partnership K-1 passthrough, although I believe this does qualify for the deduction.  I guess I'll have to retype the darn thing and create my own statement.  At least I have the wording required.

[DougO]

In ATX as long as you can create a PDF to attach with the efile forms then you can have it signed for the partnership by the representative, and then I presume you would follow through with a similar statement on the individual partner returns to complete the cycle of claiming the QBI.

[grandmabee]

I don't think you need a statement if not using the safe harbor.

[jklcpa]

15 minutes ago, DougO said:

In ATX as long as you can create a PDF to attach with the efile forms then you can have it signed for the partnership by the representative, and then I presume you would follow through with a similar statement on the individual partner returns to complete the cycle of claiming the QBI.

Hmm, I can see there will be many mistakes or omissions with, I may be one.  The partnership is including the QBI info with the K-1, but why would a signed statement be required at the partnership level when the deduction is determined by the individual on the personal return?

[DANRVAN]

4 hours ago, jklcpa said:

Is the same true for those with rental real estate NOT relying on the safe harbor but that DOES qualify as a trade or business?  Do I have to have a signed statement attached?

Judy,  The  attachment referred to in Section 3.06 of Notice 2019-7 is specifically for the safe harbor.  If you are not relying on the safe harbor the attachment is not needed.