Section 199A Calculator

Section 199A Deduction

Specified trade or business is in one of the following fields: health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, or brokerage services. If not, then enter Non-Specified.
Enter the taxpayer's tax filing status
Defined as Adjusted Gross Income (AGI) of the taypayer (and spouse, if married filing jointly), reduced by standard or itemized deductions. Please do not reduce by anticipated retirement plan contribution entered below or Section 199A Deduction.
Partnership- share of profits on K-1 (do not include guaranteed payments) Sole Prop- schedule C income S-Corp- share of profits on K-1 (do not include W-2 wages) In all of the above, do not include the qualified plan contribution deduction entered below
Your share would be based on your profit % of the business X total W-2 wages paid by the business. The total W-2 wages includes wages paid to you and your partners (if applicable) e.g. 20% profit interest X $750,000 (total W-2 wages of business)=$150,000
Enter what you would like to receive as a retirement plan contribution.

Deductions

The Section 199A Deduction illustrated above represents only an estimate. It is based on the assumption that there are no:
  • Qualified cooperative dividends
  • Qualified property
  • Qualified REIT dividends
  • Qualified publicly traded partnership income
IRS Circular 230 disclosure: Any tax advice contained in this communication, including any attachments, is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed in this communication.