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IRS Program Number NMVBP-T-00137-19-O
Instructor: Thomas A. Gorczynski, EA, USTCP
Practitioners working with Section 199A are encountering questions and problems in trying to apply new law to client issues. Topics will include determining if an activity is a trade or business, including rental activities and other ambiguous situations, reviewing the calculations and related technical issues for taxpayers over the taxable income threshold, correct reporting on pass-through entity returns, and demonstrating how loss limitation provisions impact the deduction, including pre-2018 carryforwards, among others.
Determine when an activity is a trade or business for Section 199A purposes, including rental activities and other ambiguous situations.
Review the overall computational mechanism and related technical issues for taxpayers over the taxable income threshold.
Understand how to correctly report Section 199A information on a pass-through entity return.
Calculate the Section 199A deduction for a taxpayer with multiple qualified trades or businesses and different types of pass-through entities.
Demonstrate how loss limitation provisions impact the Section 199A deduction, including pre-2018 carryforwards.
Review and understand other technical and logistical issues that came up during the 2018 filing season.
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