Business Separation Under 199A Remains a Mystery
The IRS recently issued final regulations for Section 199A, which allows a 20 percent deduction from a taxpayer’s ordinary income from certain qualified trades or businesses. There is not currently a clear test to determine whether businesses are separate for purposes of the deductions.
Jerry addressed a variety of key issues relating to the 199A deduction in an ALI-CLE National webinar and Tax Notes reported on the webinar in a recent article. Read the full article here and please contact Jerry if you would like to discuss this topic further.