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Under the new Tax Cuts and Jobs Act, does a Schedule C sole…

Under the new Tax Cuts...
Under the new Tax Cuts and Jobs Act, does a Schedule C sole proprietor qualify for the 20% deduction of qualified business income or is this only available to S Corp shareholders & LLC's?
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1/5/2018
Patrick Mullis
Patrick Mullis, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 21
Experience: Capital Accounting Analyst / Financial Analyst at Norfolk Southern
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The new tax cuts and Jobs act are available for pass through entities like sole proprietorship. This will not be available for the return able to be filed in a few weeks bet for 2018's return filed at the beginning of 2019. Hope this helps if so please rate me 5 stars, thanks and good luck.

Patrick Mullis
Patrick Mullis, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 21
Experience: Capital Accounting Analyst / Financial Analyst at Norfolk Southern
Verified
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Patrick Mullis
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Category: Tax
Satisfied Customers: 21
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Experience: Capital Accounting Analyst / Financial Analyst at Norfolk Southern

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