Under, IRC § 199A. non-corporate owners of sole proprietorships, S corporations, and partnerships can deduct up to 20-percent of their net qualified business income from each qualified pass-through business.  Taxpayers can also deduct up to 20 percent of real estate investment trust dividends and publicly traded partnership income. 

“This Topic provides tax advisers with step-by-step directions for computing a business owner’s tax liability and guidance on structuring taxpayer business arrangements to maximize federal income tax savings,” Checkpoint managing director Salim Sunderji said in a prepared statement.

Examples are provided, along with an interactive Qualified Business Income Deduction Worksheet. The worksheet enables practitioners to n perform the qualified business income calculation and model alternative scenarios and compare the outcomes in real time. Explanations of the terms and values required to make the calculation are included, along with citations from relevant authorities.

For more information about Checkpoint Catalyst, visit checkpointcatalyst.com.