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Pass-Through Entities Including Section 199A

Exam Questions: 30
Course Level: Basic
Pages: 198 | Content: 192, Supplemental: 6
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 7625B

With the passage of the Tax Cuts and Jobs Act, the landscape for pass-through entities changes considerably. This course focuses on the major changes made to the tax rules for pass-through entities including LLCs, partnerships, S corporations, and sole proprietorships. This comprehensive guide covers the mechanics of the new qualified business income deduction of 20% (Section 199A) and all other major changes that will impact pass-through entities and their owners. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00342-19-S

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Course Information

Table of Contents
  • Overview
  • Introduction to Pass-Through Entities
  • Formation, Contributions, Services, and Receipt of Ownership Interests
  • Income and Deductions, Entity Level
  • Income and Deductions, Owner Level
  • Limitations on Loss Deductions
  • Termination of Status
  • Entity-Level Taxes
Objectives
  • To recognize the impact of the TCJA regarding income taxes
  • To identify the types of pass-through entities
  • To recall the requirements for claiming the section 83(i) deferral
  • To recognize changes made by the TCJA for the determination of income for partnerships and S corporations
  • To identify the rules in the TCJA related to claiming a deduction for ''qualified business income''
  • To recall the maximum excess business loss deduction
  • To recall the limits for the net operating loss deduction
  • To recognize changes made by the TCJA for partnerships
  • To recognize changes made at the entity level by the TCJA

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