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No, real estate is not a SSTB and therefore not subject to the same income limitations. You are eligible for the section 199A deduction or the deduction for qualified business income.
Additionally, only financial brokers, not real estate brokers, are on that list.
According to the IRS:
"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees. This exception only applies if a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers"
No, real estate is not a SSTB and therefore not subject to the same income limitations. You are eligible for the section 199A deduction or the deduction for qualified business income.
Additionally, only financial brokers, not real estate brokers, are on that list.
According to the IRS:
"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees. This exception only applies if a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers"
where do I find 199A?
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