Internal Revenue Code Section 199A
GPTKB entity
Statements (28)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:United_States_federal_law
|
| gptkbp:administeredBy |
gptkb:Internal_Revenue_Service
|
| gptkbp:appliesTo |
gptkb:S_corporations
partnerships sole proprietorships some trusts and estates qualified business income |
| gptkbp:citation |
26 U.S.C. § 199A
|
| gptkbp:codifiedIn |
gptkb:Title_26_of_the_United_States_Code
|
| gptkbp:enactedBy |
gptkb:Tax_Cuts_and_Jobs_Act_of_2017
|
| gptkbp:excludes |
gptkb:C_corporations
certain investment income income from performing services as an employee |
| https://www.w3.org/2000/01/rdf-schema#label |
Internal Revenue Code Section 199A
|
| gptkbp:interpretedBy |
IRS regulations and guidance
|
| gptkbp:providesDeduction |
up to 20% of qualified business income
|
| gptkbp:purpose |
to reduce tax burden on small businesses
|
| gptkbp:relatedTo |
pass-through entities
|
| gptkbp:startDate |
January 1, 2018
|
| gptkbp:subject |
income limitations
W-2 wage limitation aggregation rules for businesses phase-out for high-income taxpayers qualified property limitation specified service trade or business limitations |
| gptkbp:sunsetDate |
December 31, 2025
|
| gptkbp:bfsParent |
gptkb:qualified_business_income_deduction_(Section_199A)
|
| gptkbp:bfsLayer |
6
|