Safe harbor statwment - Spidell

Safe harbor statwment

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Message Board Safe harbor statwment

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 4 months ago.

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  • #170755

    where is the safe harbor statement Spidell has to use instead if our tax software has it wrong?


  • #170951
    Lynn Freer

    Here it is. Complete instructions are included in the May Tax Season Update and also the March issue of Spidell’s Federal Taxletter

    The taxpayer hereby asserts that it meets the 250-hour safe harbor requirements as set forth in IRS Notice 2019-07 for the rental real estate enterprise consisting of the following rental properties:


    The taxpayer meets the 250-hour safe harbor because it maintains separate books and records to reflect the income and expenses for this rental real estate enterprise, and 250 hours or more of services were performed in 2018 with respect to the rental real estate enterprise.

    Pursuant to Notice 2019-07, the requirement for contemporaneous records and logs is waived for the 2018 tax year. As such, this third requirement is not applicable for this tax year.

    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.