How to Handle Multiple Rental Activities and the 20% Deduction

When you have multiple rental activities, here’s what you need to consider: • Are your rental activities multiple trades or businesses, or one trade or business?• Can you aggregate the rentals for Section 199A purposes? Do you want to?• How does the Section 199A...

IRS Issues Final Section 199A Regulations and Defines QBI

Qualified business income (QBI) deduction is available for a sole proprietorship, partnership, S corporation, and certain trusts, estates, and rental properties. The tax code says QBI includes the net dollar amount of qualified items of income, gain, deduction, and...

Answers to Common Section 199A Questions

The Section 199A tax deduction is complicated, and many questions remain unanswered even after the IRS issued its proposed regulations on the provision. And to further complicate matters, there’s also a lot of misinformation out there about Section 199A. Below are...