KPMG report: Proposed regulations under section 199A (October 8, 2018)

Proposed regulations were published in August 2018 to provide guidance useful in determining whether and to what extent an individual (including a trust or estate) is entitled to a deduction under section 199A with regard to trade or business income earned through a sole proprietorship, partnership, or S corporation.

KPMG has issued a detailed report that does the following:

  • Provides an overview of the statute and the proposed regulations and certain implications for taxpayers.
  • Focuses on provisions that likely will be welcomed by taxpayers because they favorably resolve some uncertainties raised by the statutory language and areas—including the anti-abuse rules—that take a less taxpayer-favorable approach

Click KPMG report to access report.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal. 

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