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IRS Safe Harbor Rules Allow Rental Real Estate to Qualify as Business for Business Income Deduction

by CPA Practice Advisor | Oct 06, 2019   ()

The IRS has issued Revenue Procedure 2019-38 that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code (section 199A deduction).
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Source: CPA Practice Advisor

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