The much anticipated proposed regulations on the IRC §199A deduction related to qualified business income have been released by the IRS ([REG-107892-18]). The proposed regulations give the first official insight into how the IRS is planning to administer the new provisions found under IRC §199A.

The titles of the regulations are:

§1.199A-0 Table of Contents
§1.199A-1 Operational rules
§1.199A-2 Determination of W-2 Wages and unadjusted basis immediately after acquisition of qualified property
§1.199A-3 Qualified business income, qualified REIT dividends, and qualified PTP income
§1.199A-4 Aggregation
§199A-5 Specified service trades or businesses and the trade or business of performing services as an employee
§1.199A-6 Relevant passthrough entities (RPEs), publicly traded partnerships (PTPs), trusts, and estates
§1.643(f)-1 Treatment of Multiple Trusts

A complete analysis of the proposed regulations can be downloaded below:

Kaplan Tax Developments: Proposed Regulations on §199A Qualified Business Income Deduction