Client is in a triple net lease arrangement. Need to know what positions tax practioners have taken in regards to 199 A deduction in the case the client was regular and continuous in its business activities and in the case the client was not regular and continuous.
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If it's a triple net lease, what business activities are left for your client except to deposit the rent? Unless, it's self-rental to a commonly controlled business. If it rises to the level of a trade or business... -
Definitely does not qualify under safe harbor, so the burden is on the owner to prove the enterprise should be treated as a business. I would say no way, but if I'm proven wrong by a later interpretation I will gladly file the amendment."Dude, you are correct" Rapid RobertComment
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What about a Self Rental? Most of those are set up as triple net but according to what I have read they will qualify.
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They do qualify based on the commonly-owned business qualifying.Comment
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