But it's OK if a partner is an S-Corp?
This article says you can't do it if any partner/shareholder is a DRE. Spidell didn't say anything about that.
https://www.cohnreznick.com/insights/sa ... california
For tax years beginning on or after Jan. 1, 2021, and before Jan. 1, 2026, qualified entities can make an irrevocable election annually on an original, timely filed return to pay the tax on a qualified owner’s share of net income of the qualified entity. Qualified entities include partnerships, limited liability companies with multiple members treated as a partnership, and S corporations. Disqualified entities are pass-through entities that have a partnership or a disregarded entity as an owner publicly traded partnerships, and entities that are permitted or required to be in a combined reporting group.