Qualified business income for Schedule E, Rental

UltraTax CS uses the following to calculate qualified business income (QBI) for Schedule E, Rental.
  • Schedule E, line 26 - Rental income and loss
  • Form 4797, Ordinary Gains and Losses
  • Any exclusions for pre-TCJA suspended passive, at-risk, basis, and excess farm losses
Use the Qualified Business Income - Rentals worksheet available in the E folder to review the calculation for QBI, as well as any future suspended losses between those happening prior to TCJA and those happening in the current year.
Use the
Qualified business income (Force)
field on the Rent-2 screen in the Rent & Royalty folder to adjust for income that doesn't qualify, or to use a different amount (including 0).
For taxpayers whose taxable income exceeds the threshold, UltraTax CS uses the following to calculate the deduction on the Qualified Business Income Component Worksheet:
  • Wages you enter in the
    W-2 wages
    field on the Rent-2 screen in the Rent & Royalty folder.
  • Unadjusted basis of qualified property you enter in the asset module. This amount transfers to the
    Qualified property
    field on the Rent-2 screen. If you're not using the asset module, you can enter the unadjusted basis of qualified property amount used in this trade or business directly in this field.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close