The Tax Cuts and Jobs Act (TCJA) affects the tax planning and income tax liability for many taxpayers. Among those most affected are business owners of pass-through trades or businesses who may be eligible for the TCJAs pass-through deduction. This course will examine the pass-through deduction authorized under Section 199A of the TCJA.

Learning Objectives

• Calculate the Section 199A pass-through deduction for multiple businesses
• Determine W-2 wages and the unadjusted basis of qualified property immediately after its acquisition (UBIA)
• Define qualified business income (QBI), qualified REIT dividends, and qualified publicly traded partnership (PTP) income and the special rules applicable to them
• Recognize the aggregation rules applicable to the Section 199A deduction
• Identify the trades or businesses considered specified service trades or businesses (SSTBs) that may be ineligible for the pass-through deduction