CPAs in public practice seeking an update on the latest tax developments related to the flow-through entities deduction.
After attending this presentation you will be able to...
- Understand in depth the deduction for income under Section 199A
- Understand reporting in From 8995 and Form 8995-A
The major topics covered in this class include:
- A deep-dive look at Section 199A, flow-through entity deduction
- Calculation of qualified business income
- Application to rental real estate "safe harbor" rule and aggregation rules
- Self-rental rule for Section 199A compared to self-rental rule for passive activities
- Differing impact on the sole proprietorship, partnerships and S corporations
- Forms reporting in Form 8995 and Form 8995-A
- Section 199A flowchart
Basic working knowledge of business taxation.