According to the IRS Newsroom:
Solely for the purposes of § 199A, a safe harbor is available to individuals and owners of passthrough entities who seek to claim the deduction under section 199A with respect to a rental real estate enterprise. Under the safe harbor a rental real estate enterprise will be treated as a trade or business for purposes of the QBI deduction if certain criteria are met. For more information, on the safe harbor see News Release IR-2019-158.
To complete the Qualified business income (QBI) section for rental property in TaxAct:
- From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click in the upper left-hand corner, then Federal
- Click Rent or Royalty Income under Federal Quick Q&A Topics to expand that category, then click Real estate rental income
- Click Add to create a new copy of Schedule E or Review to modify an existing form
- Continue through the interview questions until you reach the screen titled Qualified business income deduction information
- The program will proceed with the interview questions for you to enter or review the appropriate information