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2017 updates for S199A deduction for fiscal year end sub s corporations

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Level 1
last updated ‎December 06, 2019 7:40 PM
 
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Level 15
last updated ‎December 06, 2019 7:40 PM

If you're referring to pass-through of QBI, W-2 wages, and UBIA of qualified properties from the S-Crop which has its focal year ending in calendar year 2018, those items would be deemed to have been incurred in tax year 2018 by your client for purposes of §199A.

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Still an AllStar

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Level 15
last updated ‎December 06, 2019 7:40 PM

If you're referring to pass-through of QBI, W-2 wages, and UBIA of qualified properties from the S-Crop which has its focal year ending in calendar year 2018, those items would be deemed to have been incurred in tax year 2018 by your client for purposes of §199A.

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Still an AllStar

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Level 15
last updated ‎December 06, 2019 7:40 PM

I don't believe there is such a thing since the deductions appear on the shareholder's 1040.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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