Sec. 5. Elimination of qualified REIT dividends from qualified business income
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/bill/119/s/3829/is/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Paragraph
(1)of section 199A(b) of the Internal Revenue Code of 1986 is amended to read as follows: The term combined qualified business income amount means, with respect to any taxable year, an amount equal to the sum of the amounts determined under paragraph
(2)for each qualified trade or business carried on by the taxpayer. . Section 199A(c)(1) of such Code is amended by striking the last sentence. Section 199A(e) of such Code is amended by striking paragraph
(3)and by redesignating paragraph
(4)as paragraph (3). The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.