The IRS recently provided guidance to real estate investors regarding the Qualified Business Income (QBI) deduction under the Tax Cuts and Jobs Act (TCJA.) One of the weaknesses of the QBI provision of the TCJA was a lack of clarity in section 199A, which allows some taxpayers with pass-through businesses (e.g. LLCs and S-Corps,) to deduct 20% of their qualifying income.
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IRS Establishes Safe Harbor for Real Estate Rental Businesses
Posted by
Zinner & Co. Tax Team on Feb 11, 2019 7:40:17 AM
Topics: real estate, Tax Cuts and Jobs Act of 2017, Qualified Business Income