Real Estate Professionals and the Qualified Business Income Rule
by Phil Querin, Querin Law, LLC
In January, the Treasury Department and the Internal Revenue Service issued their final
regulations regarding the new 20% deduction on qualified business income (“QBI”) under the 2017 Tax Cuts and Jobs Act. Until the regs were finally published, there had been uncertainty about their interpretation. According to NAR, the ruling from Treasury and the IRS signaled a significant victory
for the real estate industry and for many of the National Association of Realtors®’ 1.3 million members.