Question

Which one of the following statements best describes how code 199A applies to pa corporations A...

Which one of the following statements best describes how code 199A applies to pa corporations

A The QBI deduction is determined at the entity level for both S corporations and then is distributed out to the applicable owners.

B the QBI deduction is determined at the partner level for a partnership, but what level for an S corporation.

C The QBI deduction is calculated at the shareholder level for an S corporation partnership level for a partnership

D the rules governing S corporations or partnerships provide, generally, that t is calculated at the individual owner level and is based on the terms of incor deduction and loss distributed to the equity owner from the equity owner from the applicable pass

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Answer #1

Solution: The QBI deduction is determined at the entity level for both S corporations and then is distributed out to the applicable owners.

Explanation: The deduction for qualified business income is determined at the shareholder / partner level; and afterwards distributed out to the applicable owners. It provides anti-abuse rule for qualified property for preventing any sort of manipulation of the depreciable period of qualified property using transactions among the related parties

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