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posted Jun 1, 2019 8:04:29 AM

Can the cost of land be included in the UBIA calculation for QBI since the land is an integral part of the operation and not held for investment?

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Expert Alumni
Jun 1, 2019 8:04:31 AM

No, land is not included.  Qualified Property for the Unadjested Basis Immediatiatey After Acquisition is depreciable property, but does not include land, patents, trademarks, etc.  This legal website discusses many of these provisions:  https://www.hoodlawgroupkc.com/wage-and-property-limitations-under-section-199a/

1 Replies
Expert Alumni
Jun 1, 2019 8:04:31 AM

No, land is not included.  Qualified Property for the Unadjested Basis Immediatiatey After Acquisition is depreciable property, but does not include land, patents, trademarks, etc.  This legal website discusses many of these provisions:  https://www.hoodlawgroupkc.com/wage-and-property-limitations-under-section-199a/