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Sample Safe Harbor Election Statement: Rental Real Estate Enterprises (Code Sec. 199A).

(Parker Tax Publishing September 2019)

For the tax year ending [insert tax year], [enter name of individual or relevant passthrough entity (RPE) and taxpayer identification number] is a rental real estate enterprise and is applying Rev. Proc. 2019-38 to treat its rental real estate activities as a trade or business solely for purposes of the Code Sec. 199A deduction. In support of treating its rental real estate enterprise [enterprises] as a trade or business, [enter name of individual or RPE] states that the following are true for each real estate rental enterprise:

(1) description of rented property [include address and type of rental category (i.e., commercial or residential):

(2) the number of properties rented:

(3) the owner's or the owner's agent's day-to-day involvement:

(4) the types and significance of any ancillary services provided under the lease(s):

(5) the terms of the lease(s):

(6) properties acquired and disposed of during the tax year:

[Enter name of individual or RPE] certifies that it [insert one of the following: (i) holds the rental real estate directly, or (ii) holds the rental real estate through an entity disregarded as an entity separate from its owner], and that it [choose one of the following: (i) treats each property held for the production of rents as a separate enterprise, or (ii) treats all similar properties held for the production of rents as a single enterprise.]

[NOTE: However, if the taxpayer or RPE has certain rental real estate arrangements that are excluded from the safe harbor provisions and thus are not treated like all similar properties, list those arrangements and why they are excluded from the safe harbor provisions.]

[Enter name of individual or RPE] certifies that the requirements of Rev. Proc. 2019-38 have been satisfied during the tax year with respect to the rental real estate activities.

Under penalties of perjury, I (we) declare that I (we) have examined the statement, and, to the best of my (our) knowledge and belief, the statement contains all the relevant facts relating to the revenue procedure, and such facts are true, correct, and complete.

[Signature of individual or authorized representative of individual or RPE]

[Insert name of individual or an authorized representative of individual or RPE]


Disclaimer: This publication does not, and is not intended to, provide legal, tax or accounting advice, and readers should consult their tax advisors concerning the application of tax laws to their particular situations. This analysis is not tax advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. The information contained herein is general in nature and based on authorities that are subject to change. Parker Tax Publishing guarantees neither the accuracy nor completeness of any information and is not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. Parker Tax Publishing assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect information contained herein.

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