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- S corp changes from SSTB to qualified business - Amendment needed?
S corp changes from SSTB to qualified business - Amendment needed?
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Strongsilence-C
Level 10
03-31-2025
05:36 PM
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I had previously classified this client as a consulting firm, which is an SSTB. They have explained to me that their core operations and business activities are engineering, which I accept. Engineering is an exception to SSTB treatment. Is an amended return required or suggested?
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Strongsilence-C
Level 10
03-31-2025
07:16 PM
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Were the unable to take the QBI deduction because of this?
Yes, income on shareholder1040 was above the threshold and that prevented QBI.
Thank you kindly.
