On January 18, 2019, the Treasury Department and the IRS released new guidance, including final regulations under section 199A regarding the deduction for qualified business income (QBI) from partnerships, S corporations, and sole proprietorships. What do taxpayers need to know? We’ll discuss:
- An overview of the final regulations, including a number of clarifying changes and new aggregation rules for relevant passthrough entities, and new proposed regulations released January 18, 2019;
- The new trade or business safe harbor rules for rental real estate enterprises
- Methods for calculating W-2 wages for purposes of section 199A
- Participants will gain important insights into the new guidance under section 199A and a practical understanding of the calculations required for compliance.
Learning Objectives
Upon completing this course, participants will:
- Gain insight into the final section 199A regulations
- Discuss the treatment of previously suspended losses that constitute QBI
- Gain awareness of rules applicable to taxpayers that hold interests in regulated investment companies, charitable remainder trusts, and split-interest trusts
- Describe the new trade or business safe harbor rules for rental real estate enterprises
- Apply the methods for calculating W-2 wages for purposes of section 199A
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Brought to you by Deloitte. Duration: 1 hour 3 minutes