September 22, 2020


4 Total CPE Credits


Section 199A: Schedule K-1 Reporting for Relevant Passthrough Entities

  • Instructor

    Michael Frost

Learning Objectives

  • Understand how to complete the required Schedule K-1 disclosures related to 199A
  • Understand how to allocate 199A relevant amounts to shareholders, partners, and trust beneficiaries
  • Understand how to calculate the amounts of wages and unadjusted basis immediately after acquisition of qualified property

Major Topics

  • Latest guidance issued by the IRS, whether by way of regulations or administrative announcements
  • Reporting requirements for all relevant passthrough entities
  • Reporting for multiple activities within one entity
  • Allocation of common items among multiple activities
  • Section 199A Schedule K-1 reporting for tiered entities
  • Calculation and reporting of qualified wages and the unadjusted basis immediately after acquisition of qualified property
  • Allocation of 199A relevant amounts to beneficiaries of trusts using DNI
  • How to handle separately stated items for which the status as Qualified Business Income is determined at the shareholder or partner level
  • How ownership changes affect 199A reporting on Schedule K-1
  • Reporting pulicly traded partnership income and REIT income to the partners or shareholders
  • Reporting aggregated activities
  • Allocating 199A amounts to partners when special allocations have been made by the partnership

CPE Credits Available

Total CPE

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Tax


A basic understanding of the 199A deduction

Advanced Preparation


Intended Audience

Any tax practitioner seeking a better knowledge of the Schedule K-1 reporting requirements related to 199A


Surgent McCoy CPE

This event has ended.