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Level 1
December 7, 2019
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2017 updates for S199A deduction for fiscal year end sub s corporations

  • December 7, 2019
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Best answer by itonewbie

If you're referring to pass-through of QBI, W-2 wages, and UBIA of qualified properties from the S-Crop which has its focal year ending in calendar year 2018, those items would be deemed to have been incurred in tax year 2018 by your client for purposes of §199A.

2 replies

itonewbie
itonewbieAnswer
Level 15
December 7, 2019

If you're referring to pass-through of QBI, W-2 wages, and UBIA of qualified properties from the S-Crop which has its focal year ending in calendar year 2018, those items would be deemed to have been incurred in tax year 2018 by your client for purposes of §199A.

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IRonMaN
Level 15
December 7, 2019

I don't believe there is such a thing since the deductions appear on the shareholder's 1040.

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