The Pass-Thru Business DeductionCode: 26-PBD

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Course Details

43 Pages

The passthrough business deduction - referred to as the §199A deduction or the deduction for qualified business income - was created by the Tax Cuts and Jobs Act of 2017. The deduction is available for tax years beginning after Dec. 31, 2017, but, will expire in 2026.  

LEARNING OBJECTIVES:

After reading the materials, participants will be able to:

  • Recognize §199A's limited effective time period, it's complex calculation process and the general exclusions, limits, and restrictions applicable to the provision.
  • Determine the §199A deduction amount, the type of W-2 wages used in calculating the wage/capital limit and specify how the limit impacts the amount and availability of the deduction.
  • Identify qualified business income and loss, its basic components and the ability of a taxpayer to aggregate businesses in its determination.
  • Recognize the specified services trade or business exclusion, the listed excluded services and the important exceptions provided by the regulatory de minimis rule. Identify a domestic trade or business.

Presentation Method:  Self-Study

Category:  Taxation  

CPE credit:  2 Hours  

Program Level:  Update

Prerequisites:  None

Advance Preparation:  None

Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase
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