BHoffman Posted April 3, 2019 Report Share Posted April 3, 2019 SCorp client sold equipment that had previous section 179. Big 1245 gain. I can apply this gain to QBI for the deduction, right? All other issues allow the deduction (wages, income, etc) 1 Quote Link to comment Share on other sites More sharing options...
NECPA in NEBRASKA Posted April 3, 2019 Report Share Posted April 3, 2019 It should, because it is ordinary income and that qualifies. 3 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 4, 2019 Report Share Posted April 4, 2019 1245 gains are QBI but not capital gains since they already receive tax preference. 2 Quote Link to comment Share on other sites More sharing options...
BHoffman Posted April 4, 2019 Author Report Share Posted April 4, 2019 Boy, I'm sure glad I caught that one. This guy had whopper 1245 gains! Thanks so much for the reassurance. Quote Link to comment Share on other sites More sharing options...
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