Update on Section 199A: What We Now Know After Tax Season Webinar

Identify and understand the areas of Section 199A that need IRS guidance
Identify and understand plausible tax return positions to take with respect to those areas of Section 199A where the IRS has not provided guidance

Highlights

What is a trade or business for purposes of the Section 199A 20% deduction
When is a rental activity a trade or business
Relationship between the trade or business requirement and the passive activity rules
How tiered entities claim the Section 199A deduction
When basis of depreciable property is adjusted for purposes of the 2.5% limitation
Calculating W-2 limitations when there are related business entities and/or a common paymaster
Much more relating to the areas of Section 199A that need IRS guidance