Section 199A Deduction: Rules and Forms Reporting

Overview

This program addresses the Section 199A deduction for flow-through entity income, including a review of the major provisions, forms reporting, and recent developments.

Highlights

• A deep-dive look at the Section 199A flow-through entities deduction
• Calculation of qualified business income
• Application to rental real estate - "safe harbor" rule and aggregation rules
• Self-rental rule for 199A compared to self-rental rule for passive activities
• Differing impact on the sole proprietorship, partnerships and S corporations
• Forms reporting in Form 8995 and Form 8995-A
• 199A flowchart

Prerequisites

Basic working knowledge of individual and business taxation.

Designed For

CPAs in public practice and industry seeking an update on the latest tax developments impacting the flow-through entities deduction.

Objectives

• Apply the rules and forms reporting for deducting income from flow-through entities

Preparation

None