Section 199A

Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance

January 28, 2020 By Steve

If you’re reading this, you already know, right? In many situations, the 199A regulations require adjustments to the qualified business income number … [Read more...] about Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance

October 17, 2019 By Steve

CPAs and taxpayers made some Section 199A mistakes in 2018. We saw that a lot in the returns people asked us to review. And in the returns that passed … [Read more...] about Section 199A Deduction Rookie Mistakes

September 4, 2019 By Steve

I’ve got some bad news, unfortunately. The IRS may have destroyed or dramatically reduced your Section 199A deduction. At least if you’re a typical … [Read more...] about How the IRS Destroyed the Section 199A Deduction for Small Business S Corporations and Partnerships

March 15, 2019 By Steve

On February 1, 2019, the IRS published a corrected version of their final regulations for Section 199A (available here). The corrections include a … [Read more...] about Final Section 199A Regulation Correction: Separate v. Separable

February 8, 2019 By Steve

The new Section 199A deduction gets complicated for dozens of reasons. But one nearly hidden complexity? The qualified business income adjustments, or … [Read more...] about Section 199A Qualified Business Income Adjustments

January 10, 2019 By Steve

You have probably already heard the bad news. Partnership Section 199A deductions get limited or even eliminated in many situations. If you’re a … [Read more...] about Salvaging Partnership Section 199A Deductions

December 22, 2018 By Steve

A first version of some of the pages in 2018 IRS Publication 535 appeared a few days ago. (See here.) And conveniently the pages provide additional … [Read more...] about Publication 535 Fleshes Out Additional Section 199A Details

December 19, 2018 By Steve

Some bad news, I’m afraid. The new Section 199A qualified business income deduction creates a number of danger zones for taxpayers and their tax … [Read more...] about Section 199A Qualified Business Income Deduction Danger Zones

December 10, 2018 By Steve

If you’re a real estate agent or broker, you may wonder whether the new Section 199A deduction works for you. And the short answer: Probably you … [Read more...] about Real Estate Broker Section 199A Deduction

September 17, 2018 By Steve

Section 199A potentially gives real estate investors a deduction equal to 20% of their rental income. Some real estate investor with, say, $100,000 … [Read more...] about Section 199A Rental Property Trade or Business Definition