{"id":14704,"date":"2018-12-20T14:30:12","date_gmt":"2018-12-20T20:30:12","guid":{"rendered":"https:\/\/taxprocenter.proconnect.intuit.com\/?p=14704"},"modified":"2020-05-20T14:18:01","modified_gmt":"2020-05-20T19:18:01","slug":"irs-releases-draft-of-qbi-section-of-publication-535","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/irs-releases-draft-of-qbi-section-of-publication-535\/","title":{"rendered":"IRS Releases Draft of QBI Section of Publication 535"},"content":{"rendered":"<p>On Dec. 19, the IRS released a draft of <a href=\"https:\/\/www.irs.gov\/pub\/irs-dft\/p535--dft.pdf\"title=\"\"  target=\"_blank\" rel=\"false noopener noreferrer\" data-wa-link=\"body_irs-p535draft\" target=\"_blank\">Publication 535<\/a>, <em>Business Expenses<\/em>, which includes information related to the rules for determining the new qualified business income (QBI) deduction as part of the <a href=\"https:\/\/proconnect.intuit.com\/tax-reform\/\"title=\"\"  target=\"_blank\" rel=\"false noopener noreferrer\" data-wa-link=\"body_taxreform\">Tax Cuts and Jobs Act<\/a>. Specifically, it covers the taxpayers who may take the QBI deduction, how to figure the deduction, coordination with other Code sections and special rules.<\/p>\n<p>As a draft, this information is subject to change.\u00a0If you wish, you can submit comments about draft or final forms,\u00a0instructions, or publications at <a href=\"https:\/\/www.irs.gov\/forms-pubs\/comment-on-tax-forms-and-publications\"title=\"\"  target=\"_blank\" rel=\"false noopener noreferrer\" data-wa-link=\"body_irs-formscomment\" target=\"_blank\">IRS.gov\/FormsComments<\/a>.<\/p>\n<p>Please stay tuned for a further analysis of Publication 535 from Intuit\u00ae ProConnect\u2122 experts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Find out about the IRS&#8217; proposed changes to Publication 535 as they relate to the QBI deduction.<\/p>\n","protected":false},"author":107082828,"featured_media":10654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rkv_browse_by_id":0,"rkv_cta_id":0,"rkv_optimize_for_pagespeed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"useModifiedDate":false,"customPublishDate":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[509474089],"tags":[10585,582953261],"intuit_collection":[],"intuit_series":[],"coauthors":[509474105],"class_list":["post-14704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-law-and-news","tag-small-business","tag-tax-reform"],"header_image":"","yoast_head":"<!-- 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