Objective
- Understand the 20 percent deduction for pass-through entity owners
- Implement the benefits of this deduction for income tax returns
Highlights
- The latest guidance from the IRS provided through regulations or administrative announcements
- Taxpayers that own multiple entities; aggregation rules
- Calculating qualified business income
- The latest guidance on specified trades or businesses
- Taxable income limits on specified service trades or businesses
- Maximizing the 20 percent deduction for pass-through entities and Schedule Cs
- Accounting for negative QBI
- Whether particular tax entities offer a greater §199A deduction
- Whether the owner of a Schedule E with net rental income can claim the §199A deduction
Designed For
Any tax practitioner wishing to understand and apply the 199A deductionPrerequisite
A basic understanding of the federal tax rules relating to individuals and businessesAdvanced Preparation
None