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Section 199A: Applications and Challenges (AIG4)

  • Format Self-Study Download
  • Credits 4.00
  • Level Update
  • Field of Study Taxes (Technical) (4)

Overview

Section 199A continues to challenge tax practitioners because of its complexity and its interactions with other provisions of the Internal Revenue Code. This program updates practitioners on the latest thinking about and planning strategies regarding Section 199A. It incorporates the experiences of tax practitioners regarding this provision, including issues relating to the preparation of the Forms 8995 and 8995-A. This program will include any recent IRS guidance regarding Section 199A.



Major Topics:

  • Latest guidance issued by the IRS, including relevant regulations, rulings, or administrative announcements
  • Choosing to aggregate multiple trades or businesses into a single trade or business
  • Calculating qualified business income (QBI)
  • Identifying specified service trades or businesses
  • Taxable income limits on specified service trade or businesses
  • Maximizing the 20% deduction for pass-through entities and Schedule Cs
  • Proper treatment of REIT, PTP, and cooperative income
  • Rental activities as a trade or business and the rental safe harbor election
  • Preparing Forms 8995 and 8995-A

Learning Objectives:

  • Understand how the Section 199A deduction is calculated and maximized
  • Deal with the §199A deduction in the context of a rental activity

Who should take this course:

Any tax practitioner wishing to understand and apply the ยง199A deduction

A basic understanding of the federal tax rules relating to individuals and businesses

None

Yes

No

No

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