Home      Login


New Rules for Tax-Exempt Trusts’ QBI Deduction  


Author:  Staff Editors.


Source: Volume 18, Number 05, July/August 2019 , pp.16-16(1)




Family Foundation Advisor

< previous article |next article > |return to table of contents

Abstract: 

IRC §199A, added by the Tax Cuts and Jobs Act (TCJA), allows non-corporate taxpayers to deduct up to 20% of qualified business income (QBI). Trusts, including tax-exempt trusts that have unrelated business income from a partnership, S-corporation, or sole proprietorship, are eligible to claim a deduction under IRC §199A. This article summarizes the key points and provides helpful guidance onn the service’s newly released instructions for how a trust that files Form 990-T should compute its IRC §199A deduction.

Keywords: New IRC §199A; Qualified Business Income

Affiliations:  1: Family Foundation Advisor.

Subscribers click here to open full text in PDF.
Non-subscribers click here to purchase this article. $10

< previous article |next article > |return to table of contents