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Overview

This course examines the pass-through deduction authorized under § 199A of the Tax Cuts and Jobs Act of 2017 (TCJA) in three sections:

  1. Calculation of the pass-through deduction for business owners whose taxable income does not exceed a threshold amount set by statute;
  2. Calculation of the pass-through deduction for business owners whose taxable income is greater than the threshold; and 
  3. Calculation of the pass-through deduction for business owners whose taxable income is greater than the threshold and whose businesses are considered specified service trades or businesses (SSTBs).

Also examined are each of the business categories that are considered specified service trades or businesses and identifies those businesses that might appear to be placed in those categories but which would not be deemed SSTBs.

CPE Acceptance

 

CPE Course For:

CPAs in most states (chart)
Other Professionals (chart)
 AFSP
 EA
 Tax Preparer

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Online Course Materials

Fully online PDF materials included in course.

Login to your course to read online / print / save to local drive

Materials include:

  • Clickable table of contents
  • Learning objectives--each section
  • Review questions--each section
  • Answers to review questions + explanations
  • Glossary of terms used
  • Worksheets, forms and examples
  • Index with page numbers

* Fully searchable *

Details

Fun CPE Course #: PWX1523
Materials: Online materials
Format: Interactive self-study
Subject: Federal Tax
Exam questions:  Final-20 multiple choice
Document length:  62 pages
Passing score: 70% | Unlimited retakes
Prerequisites: None
Advance prep: None
Course level: Overview
Last reviewed/updated: 01/01/23
Expiration: One year from enrollment

Learning objectives

Upon completion of this course, you should be able to:

  • Explain how to compute the § 199A deduction for pass-through business owners whose taxable income is:
    • Not in excess of the applicable threshold,
    • In excess of the applicable threshold but not in excess of the sum of the threshold and phase-in range, and
    • In excess of the sum of the applicable threshold and phase-in range;
  • Determine W-2 wages and the unadjusted basis of qualified property immediately after its acquisition (UBIA);
  • Define qualified business income (QBI), qualified REIT dividends and qualified publicly traded partnership (PTP) income and the special rules applicable to them;
  • Recognize the aggregation rules applicable to the § 199A deduction; and
  • Identify the trades or businesses considered specified service trades or businesses (SSTBs) that may be ineligible for the pass-through deduction.