Safe Harbor 199a rental property confusion.

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  • #2431
    Jannie
    Participant

    Confused whether to ck box of safe harbor on my computer tax program. I now only have 2 rentals after selling the 3rd. And answered all the questions (active participation, make profit, etc), but 250 hours each It seems like I will be spending my time writing up “my time” to prove the 250 hrs. Will the outcome of my taxes be affected by NOT clicking on this box. It seems confusing and unnecessary. I keep separate files & records on each property, but don’t always write up – typed letter to tenant, called or returned calls, called repair guy spoke 5 minutes I just do it. Maybe I’m worrying for nothing

    #2432
    kaneohe
    Participant

    Can you do it both ways and see if the result is different? The 250 hr sounds like it’s for the QBI deduction. Depends on your specific conditions…………..it might be significant or not.

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