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    #1

    QBI Question

    Have client with Trust K-1 showing rental real estate income. Tax book says this investment income is not eligible for QBI deduction. Also attached to K-1 is box 14 information Code Z showing
    agricultural cooperative QBI allocated to patron. My question is the cooperative QBI deductable?
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    #2
    Originally posted by arlo View Post
    Have client with Trust K-1 showing rental real estate income. Tax book says this investment income is not eligible for QBI deduction. Also attached to K-1 is box 14 information Code Z showing
    agricultural cooperative QBI allocated to patron. My question is the cooperative QBI deductable?
    Second question: yes.

    First comment: rental real estate may or may not be QBI-eligible. It is determined at the entity level. For a trust that is just in place for a year or two to wind up a decedent's estate, I'd err on the side of not QBI.
    "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

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