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URL:https://www.learndesk.us/class/4683511149625344/lesson/88394f412cd665dc8af3a13e247f1b8e?ref=outlook-calendar
SUMMARY:The Rental Real Estate Safe Harbor
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/4683511149625344/lesson/88394f412cd665dc8af3a13e247f1b8e?ref=outlook-calendar
DESCRIPTION: 
On September 24, 2019, the internal revenue service issued revenue procedure 2019-38 which allows certain real estate activities to be treated as a business for purposes of the qualified business income deduction. The procedure outlined a safe harbor that lists requirements for rental activities attempting to qualify for the qualified business income deduction under Section 199A.
The following requirements must be met by taxpayers or passthrough entities to qualify for the safe harbor:

Separate books and records must be maintained to reflect income and expenses for each rental real estate enterprise.
For rental real estate enterprises that have been in existence less than four years, 250 or more hours of rental services are performed per year. For other rental real estate enterprises, 250 or more hours of rental services are performed in at least three of the past five years.
The taxpayer maintains contemporaneous records including time reports, logs, or similar documents,...

https://www.learndesk.us/class/4683511149625344/lesson/88394f412cd665dc8af3a13e247f1b8e?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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DESCRIPTION:Class Reminder
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