QBI includes the income, minus wage income, deductions, applicable gains and losses, for every eligible pass-through business that a taxpayer operates in the United States or Puerto Rico. This income ...

The Tax Cuts and Jobs Act of 2017 created a new tax break, Section 199A, where individuals and certain noncorporate taxpayers can deduct up to 20 percent of qualified business income (QBI) on their ...

Practitioners have been waiting for filing season guidance on Section 199A, which provides a 20 percent deduction for qualified business income of pass-through entities. Although proposed regulations ...

Rep. Gwen Moore, D-Wisconsin, a member of the tax-writing House Ways and Means Committee, introduced legislation Thursday to expand the Section 199A Qualified Business Income deduction to provide a ...

We have gotten multiple comments on the blog over the last few weeks on Section 199A. I am using today's blog post as a simple Q & A in answering some of these comments. I assume that we would limit ...

There are two opposing arguments made by tax professionals for applying Section 199A qualified business income (QBI) treatment on 2018 tax returns for traders with trader tax status (TTS). Those for ...

Tax season is upon us and we now need to prepare tax returns for farmers (and other businesses). There were many questions regarding Section 199A in preparing 2018 returns and although we have gotten ...

Although losses are usually beneficial for tax purposes, losses from passthrough entities potentially adversely affect the 20% qualified business income (QBI) deduction under Sec. 199A. These losses, ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Section 199A dividends are distributions from the profits of domestic real estate investment trusts ...