The Mann Report published an article by Mid-Atlantic Tax Partner-in-Charge Edward Reitmeyer, about how real estate was affected by the Tax Cuts & Jobs Act.
The Mann Report
By Edward J. Reitmeyer, Mid-Atlantic Regional Partner-in-Charge, Tax & Business Services
The individual or entity relying on this safe harbor must hold the interest directly or through a disregarded entity. This means that properties held in different LLCs taxed as partnerships, or through separate S corporations, cannot be aggregated for this safe harbor rule. Additionally, commercial rental properties cannot be combined with residential properties.