If rental activity qualifies for QBID under the safe harbor election as outlined in Rev. Proc. 2019-38, this can be indicated in the QBID menu for the property and a statement will need to be attached to the tax return to that effect. The statement must include:
- the address and rental category of each rental real estate property included in each rental real estate enterprise;
- the address and rental category of each rental real estate property acquired or disposed of during the tax year; and
- representation that the requirements of Revenue Procedure 2019-38 have been met.
See here for more information about making this election in Schedule E in TaxSlayer Pro.
Once the election has been indicated in the property's record in Schedule E, you will need to print "Schedule E Elections" from the View Results menu, have the taxpayer(s) sign it, then scan and save it to a PDF for the purpose of attaching it to the return.
To attach the PDF copy of the signed safe harbor election statement to the tax return in TaxSlayer Pro, from the Main Menu of the tax return (Form 1040) select:
- Rents, Royalties, Entities (Sch E,K-1,4835,8582)
- Attach PDF Document for Rental Safe Harbor Election - Click New and locate the document.
Note that menu line to attach the PDF won't be clickable and a PDF can't be attached until the safe harbor election has been made for a rental property.