QBI- Amended Tax Return

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  • sami
    Member
    • Apr 2017
    • 78

    #1

    QBI- Amended Tax Return

    I got a new client, who filed his tax return on turbo tax for 2018 and owns a rental property. He took QBI deduction on the rental property for 2018 but didn't meet the requirements to be eligible for QBI.
    My question is can I amend his 2018 tax return and file future years correctly or a return with rental QBI cannot be amended and he is stuck ? Thanks
  • Lion
    Senior Member
    • Jun 2005
    • 4699

    #2
    Almost any return can be amended. But, are you sure he didn't meet the requirements to be eligible for QBI?

    Comment

    • sami
      Member
      • Apr 2017
      • 78

      #3
      I thought their was a provision with 199A that once you claim the rental property as used in trade or business and claim QBI on the rental property, you cannot amend the tax return to revert back that it was not eligible for QBI. Any thoughts?

      Comment

      • terryats
        Senior Member
        • Jan 2019
        • 258

        #4
        You may be thinking about stating if the rental rises to a level of a trade or business, then you cannot change it for future years unless facts change. I believe you can still amend if an error was made

        Comment

        • sami
          Member
          • Apr 2017
          • 78

          #5
          Can it still be amended for 2018, since taxpayer prepared their own tax return without understanding if the rental property qualified for 199A deduction, since it was the first year 199A implementation.

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