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The IRS has provided some clarity on net capital gains in its section 199A final regulations.
It is possible for Section 199A, the new tax code, may be able to provide your net capital gains with a 20% reduction of your taxable income. The IRS has issued final regulations on Section 199A, along with that clarity they have issued on the capital gains component.
Section 199A often referred to as QBI is a tax deduction that applies to your trade or business income from pass-through entities. If your taxable income is equal to or less than the threshold of $315,000 (married, filing jointly) or $157,500 (filing as single or head of household), you apply the 20 percent to the lesser of your:
For the Section 199A calculation, your net capital gains are
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