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

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

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

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
13. Which of the following statements is CORRECT? Group of answer choices One of the disadvantages...
13. Which of the following statements is CORRECT? Group of answer choices One of the disadvantages of incorporating a business is that the owners then become subject to liabilities in the event the firm goes bankrupt. Sole proprietorships are subject to more regulations than corporations. In any type of partnership, every partner has the same rights, privileges, and liability exposure as every other partner. Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones. Corporations...
1.) The basic rules governing how a corporation is organized and how it conducts its business...
1.) The basic rules governing how a corporation is organized and how it conducts its business are known as _____. a. certificates of organization b. corporate bylaws c. prospectuses d. articles of incorporation 2.) A _____ is a legal business entity that offers limited liability to all of its owners. a. Limited partnership b. General partnership c. Sole proprietorship d. C corporation 3.) How is the formation of limited liability companies (LLCs) similar to the formation of corporations? a. Similar...
7. Two analysts are overheard discussing technical trading rules. One says, "I have noticed over the...
7. Two analysts are overheard discussing technical trading rules. One says, "I have noticed over the last year or so that the market rises to about 11,000 and then falls back. It seems to do that every two to three months. At the bottom, it goes to about 10,000 and then rebounds. It's sort of like watching a roller coaster." The market consistently staying in a band between 10,000 and 11,000 is most likely to be used as evidence against...
Most guaranteed payments from partnerships and wages from S Corporations are subject to the full 15.3%...
Most guaranteed payments from partnerships and wages from S Corporations are subject to the full 15.3% FICA tax. Flow-through income from partnerships is sometimes subject to FICA tax while S corp flow-through income is not subject to FICA tax. Cash distributions are not subject to tax, nor are they a deductible expense. Services contributed to a partnership are often compensated through guaranteed payments from the partnership. These are treated as salary payments on which the partner receiving them must pay...
2 . Identify which of the following statements is true: If an S Corporation has no...
2 . Identify which of the following statements is true: If an S Corporation has no accumulated earnings and profits, the amount distributed to a shareholder will not increase the shareholder's basis in the stock        If a C Corporation does not distribute its income to its shareholders, double taxation of the income will occur.        C Corporation operating losses are deductible by the individual shareholders        S Corporation operating losses are never deductible by the individual...
Question 25 State sales taxes tend to be regressive in that higher income-people save and invest...
Question 25 State sales taxes tend to be regressive in that higher income-people save and invest rather than consuming all their income like lower-income people, so they pay a lower portion of their income on sales taxes which are consumption based. To offset this regressivity, most state sales tax rules do what? Base sales tax rate on the level of income of the purchaser. Rebate excess sales taxes paid to low income taxpayers on application. Exempt certain necessities that all...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events that took place at Enron and how the situation could have been dealt with differently to prevent further damage? THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies,...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT