TCJA Section 199A Pass-Through Business Deduction (2 hrs)

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Course Description

TCJA Section 199A: Pass-Through Business Deduction – 2 hrs. CPE

TCJA §199A Pass-Through Business Deduction: The Tax Cuts and Jobs Act (P.L. 115-97), enacted Dec. 22, 2017, created, under §199A,  a new deduction for up to 20% of qualified business income (QBI) from partnerships, limited liability companies (LLCs), S corporations, trusts, estates, and sole proprietorships for tax years beginning after Dec. 31, 2017. However, determining the §199A deduction amount and availability is a very complex multi-step process that may phase out some or all of the deduction.

In the face of this complexity, the text provides a selected overview of the basic components of this below-the-line deduction. Qualified business income, taxpayer’s taxable income, wage/capital limit, specified services trade or businesses, and other key components are not only defined and calculated but their interaction is demonstrated and exampled.

Course Information

Price: $24

This course is included in our MEGA CPE Subscription and our Unlimited Tax Special

Course No. M270
Format: Online pdf (46 pages). Printed book available.
Prerequisites: General understanding of federal income taxation
Advance Preparation:None
Level: Overview
CPE Credit: 2 hrs.
Field of Study: Taxes: Technical
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: February 2023


Major Topics:
* Deduction amount
* Wage/capital limit
* Qualified business income
* Qualified trade or business
* Specify service trade or business
* De minimis regulatory rule
* Domestic business

After reading the materials, participants will be able to:

  1. Recognize §199A’s limited effective time period, its complex calculation process, and the general exclusions, limits, and restrictions applicable to the provision.
  2. Determine the §199A deduction amount, the type of W-2 wages used in calculating the wage/capital limit and specify how the limit impacts the amount and availability of the deduction.
  3. Identify qualified business income and loss, its basic components and the ability of a taxpayer to aggregate businesses in its determination.
  4. Recognize the specified services trade or business exclusion, the listed excluded services and the important exceptions provided by the regulatory de minimis rule. Identify a domestic trade or business.

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