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Print a pdf copy then select which one you want to print .

Oh, you reminded me of another twist: my IC couples have at least two SE businesses per couple. One couple has hubby with CT and NY sources of income (NY is decoupling from lots of fed items) and wife with her own biz that now operates in Paris, also! And, my other out-of-CT clients that have had few issues in their other states -- well, now I have states other than just NY to research their compliance with &/or decoupling from fed law. I am really raising my fees this year!

According this article in the Journal of Accountancy, Statutory Employees may be able to claim QBI: https://www.journalofaccountancy.com/issues/2019/jan/qbi-deduction-for-statutory-employees.html How many more things will pop up like this during this tax season?

As Oprah says: You get a deduction You get a deduction YOU GET A DEDUCTION!!!!!

I took the Gear Up 6 day Vegas seminar. Got a ton of 199A, still haven’t a clue on GILTI. Teaching a 3 hour update class since the group I’m teaching for can’t count on the IRS practitioner liaison not to be on furlough (he was going to do 2 hours). I am going to treat my rentals as QBI. I think I have a profit this year; I’ll have my books done pretty soon. On the other hand, my own books are farther along than they’ve been in years at this point. And my W2s are already issued.

As far as I know, you cannot efile* W-2's using ATX, only 1099's which is not available yet. You can create them in ATX, then convert them to .ASC files to upload into the social security admin. website, which require for you to register first. *Using ATX for W3/W2s does not allow you to efile them like you would a 1099, 1040 etc.... It's a different process, if you create a W3/W2 in ATX, first you need to obtain an user ID from the social security administration, once you are registered and have that number, you can go ahead and create the W3/W2s in ATX, you will click on efile, then the file will be converted into a format approved by the SSA. Finally, you will login into SSA business service online, upload the .asc format, print out your confirmation and that's it, you will only use ATX to create and print the forms. Hope this helps.

Yes! This is going to be a very taxing season.

I think you have prejudged this situation. The name of the presenter and coauthor of the seminar I attended yesterday is Christopher Hesse, who is a National Tax Partner for a National Accounting Firm and who also is currently the Vice Chairman and the Chairman Elect of the AICPA Tax Executive Committee . He has had multiple meetings with the Senior Staff of the Joint Committee on Taxation who write the Blue Book which is official Statement of Congressional Intent with respect to the TCJA. He has also has had multiple meetings with senior members of the Treasury Department with respect to the TCJA. Mr. Hesse said, that it is the clear intent of Congress and the administration for Section 199 A and QBI to be interpreted liberally. I have been attending this seminar for many years and place far more value on what I learn there than any other source. However as a famous person once said," The thing about opinions is that everyone has one." I will sleep quite comfortably following Mr Hesse's advice.

From what we've seen here, for many of our clients it is not going to be that bad (fingers crossed!). Most folks are in businesses where QBI is clearly defined to apply. Most make way under the phase-out areas for the specified businesses. Most do NOT have multiple QBI-subject businesses where aggregating and netting and passive versus active have to be teased together or apart. There will be some for whom it will be nasty, absolutely. Those will likely come in later. But most of our aggravations this year will be, as with other years, clients whose records have missing items or who play (or are) stupid when asked.

This exact topic came up in the all day seminar sponsored by the OSCPA that I attended on Tuesday where we spent al least 3 hours on 199 A. The coauthor and presenter was Chris Hesse, a National Tax Partner for Clifton Allen Larson. He is the past chair of the AICPA Ag Conference, author and presenter of the Farm Tax Update and Chairman elect of the AICPA Tax Executive Committee. I recite all this background because these are his answers, so if you want to argue or disagree your fight is with him not me. Mr. Hesse's answer was, the farmer landlord needs to have some involvement that at least rises above the farm equivalent of a Triple-Net Lease. In his opinion, there is absolutely no requirement for the income to be subject to SE Tax. He at least needs to be paying the property taxes and have some additional involvement, perhaps buying fertilizer, maintenance of buildings, erosion control etc. You may find more answers at their website claconnect.com since their headquarters is in Minnesota and they specialize in Ag Tax issues.

For partnership I found the Sec 199 additional info I think under special allocation tab.....down to line 20 has for w-2 info and basis of property

Actually they first unveiled this 2 years ago. I submitted a chat request, some one was assigned to to my request, but no one ever responded. Severally months later, they closed the chat, but I never received any chat reply of any kind. This was one of the final straws for me before I switched to Drake.

@cbsleeI hear you. But we all know that Congressional intent and IRS/Tax Court interpretations do not always match up. For an example, Congress vehemently argued that the ACA Shared Responsibility payment was not a tax, until the 9 clowns in black gowns said it was. I think I have an obligation to my clients to tell them that the guidance is not clear, and that there is a chance that the deduction will be challenged by IRS. For those clients who are risk averse, they may not want to roll the dice. If they choose not to take that position, and guidance comes down that makes it clear they should have, we can amend. For those clients who want to take the position, I will do so. If the return is challenged, I will defend the position at audit. It is ultimately the client who is responsible for the position taken on the return. Tom Modesto, CA

Like this one because it goes back and forth. In the end they have a reasonable opinion. Opinion Nevertheless, when the Internal Revenue Service, tax accountants and tax attorneys throw around the term “Section 162 trade or business,” what they really mean is an activity that the courts and the Internal Revenue Service in past decisions count as a real trade or business that generates legitimate Section 162 business deductions. These court and IRS decisions, by the way, all sort of work the same way. And if you happen to be interested, probably your best place to dip toes into the water is the Groetzinger v. IRS Commissioner decision. Groetzinger summarizes nicely what a Section 162 trade or business needs to look. The activity needs to be continuous and not sporadic. And the activity needs to be conducted with regularity and with a profit motive. And then here’s the really important point for real estate investors. The Section 199A regulations explicitly say that except in one special case situation, direct real estate investment doesn’t–does not–necessarily rise to the level of a trade or business.

Bite me sounds like a good response. I've already been contacted by four clients who aren't usually this early, but are almost ready to deliver me their tax materials. Three have IC income. I was dreading getting started late, so am happy I'll be able to start next week. But, be careful what you hope for -- I'm not happy that my first ones will deal with that dreaded QBID.

ILL: If a "new" client comes in, and presents Scenario #2, then you have to deal with the lack of compensation, and it has nothing to do with QBI. The S/H has not taken a salary and should be taking something. If it is an existing client, then you should have dealt with it in the past. What other clients have this problem? If the client is refusing to take a reasonable salary, then the whole QBI issue is moot. You probably don't want them as a client. They are going to cheat elsewhere as well, and make it all your fault when they get caught. Rich

As I previously mentioned, I attended an all day seminar today sponsored by the OSCPA where the presenter spent at least 3 hours on 199 A. I think most members of our profession, including me are strongly influenced by what we already know about how tax law and rental real estate intersect. The problem 199 A presents to both us and to the IRS is that TCJA does not cite or reference most of those familiar Code Sections. All of those key phrases we have etched in our brains with respect to rental real estate are actually impediments to understanding 199 A which is exactly why the guidance from the IRS has either been either unclear or yet to be written. To paraphrase the ancient chinese curse, we are living in interesting times.

I can NOT see HOW they can call it stockpiling (or householding, or whatever) if THEY are the ones not accepting returns! "See the date - AFTER you shut down and BEFORE you re-opened; what else am I supposed to do? They got e-filed within a day or two of you re-accepting. Bite me." That last short sentence thought, not said. Probably. No guarantees because I cannot abide willfully stupid.

Pretty much (assuming you want to cover your bacon - and who would want to risk bacon, after all?). Our state society update spent two hours (non-IRS cont ed) talking about what MA will and will NOT comply with. Ugh. They don't take the alimony changes. They still accept moving expenses with caveats.... it's going to be nasty. One huge take-away for us ALL is that we are NOT going to be able to just trust our software this year. Yes, they will do their best. Yes, they will ALL miss things (different things per state and per s/w package). We all need to warn clients when they first come in, so they don't yell at us when things take longer. Extensions will also be our friends. Even the shutdown; it's yet another reason for the delay in getting answers and seeing state interactions.

Used ATX last year, but not this year. Output a pdf file then pick the pages you want to print.