Practitioners have been anxiously awaiting the final regulations explaining the §199A 20% deduction.  IRS released the 247 pages of final regulations on January 18, 2019. The regulations address many of the questions raised by the proposed regulations issued on August 16, 2018. IRS says taxpayers may rely on either the proposed regulations in their entirety or the final regulations in their entirety when filing 2018 tax returns. Don will help you decide if the proposed or final regulations are best for a particular business. In addition, the IRS released a new safe-harbor rule treating real estate rentals as qualified §199A income (i.e., QBI). Don will explain the application of this new safe-harbor provision which applies to 2018 returns.