The Section 199A Deduction: Rules and Forms Reporting

This program addresses the Section 199A deduction for flow-through entity income, including a review of the major provisions, forms reporting and r...

3/22/2022 1:30pm - 3:30pm | Online | CPA Crossings

$79.00

CPE Categories: Taxation (2 CPE)

Description

This program addresses the Section 199A deduction for flow-through entity income, including a review of the major provisions, forms reporting and recent developments. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Target Audience

CPAs in public practice seeking an update on the latest tax developments related to the flow-through entities deduction.

Course Objectives

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

Subjects

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

Prerequisites

Basic working knowledge of business taxation.