Update on Section 199A: What We Now Know After Tax Season (Self-Study)

Code: JSODS19U

Date Valid for one year from purchase date
Format Self-Study (On-Demand)
CPE credits CPE 4.0
Specialty
credits
4.0 IRS CE approved
Field(s)
of study
Taxes - Technical (4.0)
Fees
Standard member fee $89.00
checkmarkStandard nonmember fee $89.00

Members: Please log in to receive member fee.

Description

The Section 199A 20% deduction is by far the most complex and important provision, at least for most taxpayers, resulting from the Tax Cuts and Jobs Act of 2017. When this provision came into effect there were many unknowns. This program will review what we have learned about the implementation of Section 199A since its enactment and will identify areas where guidance is still needed. For the issues that are unresolved, the presenters will discuss plausible interpretations of the existing statutory language that might be helpful in taking tax return positions.

Who should take this program?

Tax practitioners who anticipate advising clients with respect to any aspect of Section 199A, the 20% deduction

Major subjects

  • What is a trade or business for purposes of the Section 199A 20% deduction
  • When is a rental activity a trade or business
  • Relationship between the trade or business requirement and the passive activity rules
  • How tiered entities claim the Section 199A deduction
  • When basis of depreciable property is adjusted for purposes of the 2.5% limitation
  • Calculating W-2 limitations when there are related business entities and/or a common paymaster
  • Much more relating to the areas of Section 199A that need IRS guidance

Learning objective(s)

  • Identify and understand the areas of Section 199A that need IRS guidance
  • Identify and understand plausible tax return positions to take with respect to those areas of Section 199A where the IRS has not provided guidance

Notes:

Course code Code JSODS19U
Sponsor Surgent
NASBA ID#: 103212
Level Intermediate
Format Self-Study (On-Demand)
Prerequisites Prereq. A basic understanding of the tax rules relating to individual income tax
Advance
prep
None