Section 199A

Salvaging Partnership Section 199A Deductions – Business Article

You have probably already heard the bad news. Partnership Section 199A deductions get limited or even eliminated in many situations. If you’re a partner in a partnership or a tax accountant, however, you want to understand the way partnership tax accounting produces this result. You may have one possible workaround that salvages the deduction. But let’s quickly go through the issues… But one other note: We have updated this post’s information for the final regulations which appeared on January 18 2019.…

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Publication 535 Fleshes Out Additional Section 199A Details – Business Article

A first version of some of the pages in IRS Publication 535 appeared a few days ago. (See here.) And conveniently the pages provide additional details concerning the Section 199A deduction. Some of these details will surprise tax accountants, surely. Others may only exasperate. But one interesting idea to ponder if you’ve followed closely the Section 199A discussion: Do the draft pages for Publication 535 reflect an evolution in Section 199A thinking on the part of the Treasury and IRS. Maybe…

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