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Level 2
March 6, 2021

Construction Company and Section 199a

  • March 6, 2021
  • 2 replies
  • 9 views

Can anyone provide any input on whether or not a Construction Company is a SSTB?  My clients own an LLC, 50/50, and do construction and remodel work on residential properties.  My first thought is they are not a SSTB.  In that case though, can they still qualify for a partial deduction on their personal return, utilizing Form 8995?

Any input would be appreciated.

 

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    2 replies

    sjrcpa
    Level 15
    March 6, 2021

    Construction is not an SSTB.

    The more I know the more I don’t know.
    IRonMaN
    Level 15
    March 6, 2021

    I think I paid extra to get something called "Google" on my computer.  More folks should spend the extra money to get the option.

    What is an SSTB - Google Search

    Slava Ukraini!
    dkh
    Level 15
    March 7, 2021

    Are you preparing the return for the LLC ?  Or are you preparing the individual return and trying to determine how to calculate 199A for Form 8995 ?? .....because that's not how it is done.