Think Advisor

8584 / How is the Section 199A QBI deduction calculated for taxpayers with income that exceeds the relevant threshold levels?

(2) 20 percent of the combined amount of qualified REIT dividends and qualified PTP income. This amount is then compared to 20 percent of the amount by which the taxpayer’s taxable income exceeds net ...
Forbes

IRS Confirms Section 475 In QBI Income

Good news for traders: Section 199A final regs confirm QBI includes Section 475 ordinary income and loss. On Jan. 18, 2019, the IRS issued final 199A regs for the 2017 Tax Cuts and Jobs Act (TCJA) 20% ...
Forbes

A Rationale For Using QBI Tax Treatment For Traders

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 ...
Accounting Today

New bill would expand QBI deduction for small biz

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 ...