2019 Post-Tax Season Update and Review Seminar — Attendee questions - Spidell

2019 Post-Tax Season Update and Review Seminar — Attendee questions


While at the 2019 Post-Tax Season Update and Review Seminar, speakers Renée Rodda and Mike Giangrande spend some time answering attendee questions. Here are some frequently asked questions with answers provided:

  1. Do unreimbursed partner expenses reduce QBI?
    No, they do not.
  2. Why is my software not including passive activities in the IRC §199A calculation?
    Passive losses do not reduce QBI in the year of loss. They are applied to QBI in the year used.
  3. Does time spent by property managers count toward the 250-hour safe harbor?
    Yes, property manager time does count towards the 250 hours.
  4. Is it true that my client who sold the stock in his company can defer tax on the gain with a qualified opportunity zone investment?
    Yes, you can use these investments to defer the gain from stock sales. It is a great tax planning opportunity.
  5. Can I deduct interest on a home equity loan that was used to remodel my client’s kitchen?
    Yes, interest on home equity loans that are used for acquisition or improvements is still deductible.

Our Post-Tax Season Update and Review seminars are over, but you can get the same great information at the Post-Tax Season Update and Review Webinar on June 5 and 6. We’ll cover IRC §199A, opportunity zone funds, and other news. Click here for more info.