BgTx Posted April 12, 2020 Report Posted April 12, 2020 Can we include rental property disposal income from Part 11 or 111 of form 4797 for QBI deduction?. In ATX (1040) inputs for form 8995 requires input of Disposition Gain/Loss from activity . Which amount to include here ? Quote
grandmabee Posted April 12, 2020 Report Posted April 12, 2020 Ordinary income only. No capital gain from sale Quote
jklcpa Posted April 12, 2020 Report Posted April 12, 2020 I think the depreciation recapture that is taxed as ordinary income and unrecaptured sec 1250 are QBI, but any portion of the gain that is taxed as capital gain wouldn't be. You can take a look at the final reg that is mentioned in this post from last year on the same topic: 1 Quote
BgTx Posted April 12, 2020 Author Report Posted April 12, 2020 Thank you all for the valuable inputs. Ascertaining QBI correctly is a pain. Quote
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