What happens to the § 199A deduction if a qualified trade or business generates a loss?
A) If the net amount of income, gain, deduction, and loss is less than zero, the net amount of the deduction can be carried back to a previous year or the taxpayer can elect to carry it forward.
B) If the net amount of income, gain, deduction, and loss is less than zero, the net amount of the deduction is lost and is not available to carryforward or carryback.
C) If the net amount of income, gain, deduction, and loss is less than zero, the net amount is treated as a loss in the succeeding year.
D) None of these.

Question

Quizplus · Accepted Answer

If a qualified trade or business generates a loss, resulting in the net amount of income, gain, deduction, and loss being less than zero, the net amount is treated as a loss from a qualified business in the succeeding taxable year.

What Happens to the § 199A Deduction If a Qualified