The IRS has issued final regulations on the Sec. 199A qualified business income (QBI) deduction. The new deduction allows pass-through businesses, including sole proprietorships, to deduct up to 20% of their QBI. Eligible taxpayers can also deduct up to 20% of their qualified real estate investment trust (REIT) dividends and publicly traded partnership income. The deduction is available beginning in tax years starting after 12/31/17 and before 1/1/26. Click here to see the regulations. The QBI deduction is complex. Contact us with questions. © 2019
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