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If you earn income from rental properties you may be eligible to claim a nice tax break: The 20% qualified business income (QBI) deduction is for self-employed individuals and owners of pass-through entities, such as LLCs, partnerships and S corporations. These individuals can deduct 20% of their QBI. The write-off also applies to some landlords with Schedule E rental income. There are lots of special rules and restrictions, most of which apply to people with taxable incomes, before the QBI deduction, of more than $383,900 on joint returns and $191,950 for all other returns. The QBI write-off is temporary. It ends after 2025 unless Congress extends it.
