2024 MSCPA Annual Convention: Details

Section 199A Deduction: Rules & Forms Reporting

← Return to The CPE Catalog
Thursday, August 22, 2024 @ 8:30am – 10:30am
Add to Calendar

Description

This program addresses the Section 199A deduction for flow-through entity income, including a review of the major provisions, forms reporting, and recent developments. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Prerequisites

Basic working knowledge of individual and business taxation.

Highlights

The major topics that will be covered in this class include:

  • A deep-dive look at the Section 199A flow-through entities deduction
  • Calculation of qualified business income
  • Application to rental real estate - "safe harbor" rule and aggregation rules
  • Self-rental rule for 199A compared to self-rental rule for passive activities
  • Differing impact on the sole proprietorship, partnerships and S corporations
  • Forms reporting in Form 8995 and Form 8995-A
  • 199A flowchart

Objectives

After attending this presentation, you will be able to...

  • Apply the rules and forms reporting for deducting income from flow-through entities

Preparation

None

Credits

Category Amount
Taxation 2.00