Level 1

Sec 199A for landlords

Forum|Forum|7 years ago
April 4, 2019
1 reply
8 views

How is the election to group rental properties for the purpose to qualify for the 250 hour safe harbor made on the Form 1040?

ProConnect Tax Online

This topic has been closed for replies.

itonewbie

Level 15

You'd check the box for "Claiming safe harbor on rental real estate per IRS Notice 2019-07" under each of those rental properties, modify the safe harbor statement to list all the properties on one with a notation about grouping them (discarding the statements PTO will print for each), have your client wet sign it, and attach the signed copy to the return as a PDF.

---------------------------------------------------------------------------------Still an AllStar

P

PCARREON

Level 3

I'm trying to attach the signed pdf to the return, but it's not giving me the option to attach it to the correct form. My client has 11 rental properties and a K-1 from unrelated S Corporation. The only Schedule E form it lists on the attachment screen is #12, which is the S-Corp. One through eleven do not come up and I get critical diagnostics for not having the pdf election attached. Is there a check box I'm missing that will bring the other Schedule E activities up?

Thanks in advance for any assistance with this!

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