IRS finalizes guidance for the section 199A deduction for shareholders of Regulated Investment Co

IRS finalizes guidance for the section 199A deduction for shareholders of Regulated Investment Companies  https://www.irs.gov/newsroom/irs-fina https://accountinginstruction.info WASHINGTON — The Internal Revenue Service today issued final regulations permitting a regulated investment company (RIC) that receives qualified real estate investment trust (REIT) dividends to report dividends the RIC pays to its shareholders as section 199A dividends.  Section 199A, enacted as part the Tax Cuts and Jobs Act (TCJA), allows individual taxpayers and certain trusts and estates to deduct up to 20 percent of certain income (section 199A deduction).