§199A Qualified Business Income Deduction – New Choices, Choices (8 hours)

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Aug 5, 2020

Registration: 4:30 AM / Program: 5:00 AM - 1:00 PM Pacific Time

Fees

Member Fee: $225.00
Nonmember Fee: $275.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

When Treasury dropped final §199A regs on us, we were given certain choices about whether to stay with certain §199A positions reported on 2018 returns or file amended returns for 2018 to achieve better posture. What are those choices and are you better off taking advantage of them?

At long last, IRS dropped, for the first time ever, forms (Form 8995 and Form 8995, complete with Schedules A, B, C and D) and Instructions for the qualified business income deduction QBID. 2019 Forms 1065 (1120S and 1041) K-1s also take a wholly different approach than before.

What new info, opportunities and requirements) do these new forms and guidance throw at our feet? What does it mean for 2019 returns claiming QBID? Take our all-new, fresh look course and learn to command the topic.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Designed For

All

Objectives

  • Explain QBID with guiding light to individuals, S Corp shareholders, LLC members, partners, trustees and estate administrators
  • Effectively choose whether to better posture with amended returns
  • Develop strategies to maximize QBID 

Major Subjects

  • QBID fully illuminated
  • Is rental real estate a §199A business or not? The §162 court cases nail it
  • Who needs the Rev. Proc. 2019-38 real estate safe harbor anyway? Most don’t
  • How income, wages and property can maximize QBID
  • Optional aggregation (of businesses) to pump up QBI deduction
  • Aggregating—Best to do so at entity or individual level? Or both?
  • Definition of “specified service business” (SSTB)
  • How income highs and lows can cause you woes
  • Effective date(s) of amended return choices (choices, choices, choices)

This event has already passed. If you have any questions, please contact us at 503-641-7200 or email profdev@orcpa.org.