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§199A Final Regulations - What are the Final Rules?

Time Zone is Eastern Standard Time (EST).

The Treasury Department has issued the long awaited final regulations implementing the 20% qualified business deduction found at §199A. These regulations give us the IRS’s take on how the provision will be applied. Getting up to speed on these revisions to the prior proposed regulations is crucial so advisers can serve their clients properly in the upcoming tax season.

Learning Objectives:

Participants will be able to:

  • Recognize businesses eligible for the Section 199A deduction and calculate the proper deduction

  • Understand the determination of whether a rental is or is not a trade or business for these purposes

  • Recognize businesses are that are specified service trades or businesses (SSTB)

  • Apply the rules for aggregating trades or businesses for §199A purposes.