A safe harbor for rental real estate to qualify for the qualified business income (QBI) deduction is now allowed. IRS Revenue Procedure 2019-38 permits a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction. It states in part that, if all safe harbor requirements are met, an interest in rental real estate will be treated as a single trade or business for purposes of the deduction under Section 199A. An interest failing to meet all the requirements may still be treated as a trade or business for purposes of the deduction in certain cases. Visit our website for more information! www.mjscpa.com/news/