lhansen
Level 1
03-06-2021
09:51 AM
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Can anyone provide any input on whether or not a Construction Company is a SSTB? My clients own an LLC, 50/50, and do construction and remodel work on residential properties. My first thought is they are not a SSTB. In that case though, can they still qualify for a partial deduction on their personal return, utilizing Form 8995?
Any input would be appreciated.
sjrcpa
Level 15
03-06-2021
11:26 AM
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Construction is not an SSTB.
The more I know the more I don’t know.
IRonMaN
Level 15
03-06-2021
11:28 AM
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I think I paid extra to get something called "Google" on my computer. More folks should spend the extra money to get the option.
What is an SSTB - Google Search
Slava Ukraini!
dkh
Level 15
03-06-2021
06:46 PM
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Are you preparing the return for the LLC ? Or are you preparing the individual return and trying to determine how to calculate 199A for Form 8995 ?? .....because that's not how it is done.
