IRS Guidance on 20% Business Income Deduction
LOUISIANA REALTORS • August 9, 2018
The Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new qualified business income deduction is available for tax years beginning after Dec. 31, 2017. Taxpayers can claim it for the first time on the 2018 federal income tax return they file next year.
The deduction will have a significant, beneficial impact on NAR’s membership. The National Association of Realtors® believes that this deduction, included in today’s IRS and Treasury Department release of proposed regulations, will be available to a wide range of real estate professionals, including those who are self-employed as well as those operating through partnerships, LLCs, and S corporations. Here is what Bob Goldberg, NAR CEO had to say about it:
Louisiana REALTORS® is accepting applications for the 2028 Region 10 RVP on the National Association of REALTORS® Board of Directors to be voted on by the Board of Directors of Louisiana REALTORS® on Wednesday, March 4, in Bossier City, Louisiana. Eligible candidates can submit the application at the link below by Monday, February 16, 2026, by 5:00 p.m. to be considered for this position. Selected applicant will then proceed through the candidate background process with NAR, and elected by the NAR Board of Directors in October.
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