Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Depreciation

Mark that an activity qualifies for Section 199A

Follow these steps to mark that an activity qualifies as trade or business for Section 199A. This only applies for tax years ending 2018 and later.
  1. Open a client.
  2. Select
    Setup
    , then
    Activities
    .
  3. Select the correct Form/Schedule, then
    Edit
    .
  4. Select
    Yes
     or
    No
     from the
    Qualifies as a trade or business for Section 199A
     field.
To use component assets instead of aggregate assets, select
Options
,
Calculation
, then mark the
Use component assets instead of aggregate assets for business income deduction
 checkbox.
To print a report for the qualified business deduction, select
File
,
Print
, then the
Tax Qualified Property Report
. To include non-qualified assets on this report, select
Options
,
Tax Qualified Property Report
, and mark the
Non-qualified Assets
 checkbox.
The
Qualifies as a trade or business for Section 199A
 field is left blank by default and is only available for the following entities/activities:
  • 1040 - Business, Bus COGS*, Rental, Farm, Farm Rent
  • 1041 - Business, Bus COGS*, Rental, Farm, Sch K-1
  • 1120S - Business, COGS*, Farm, Farm Rent, Rental
  • 1065 - Business, COGS*, Farm, Farm Rent, Rental
  • 990 - OP, OP COGS, Rental
note
*The field is not available for COGS and Bus COGS activities. To enter Yes/No for COGS or Bus COGS, go to the Business activity (or create one if it doesn't exist) and fill out the field, which will automatically transfer to the COGS or Bus COGS activity.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual,1120 Corporation,1065 Partnership,1041 Fiduciary,990 Exempt Organization
  • Subject: Depreciation

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close