249 pages. The Treasury Department and the IRS on Feb. 1 released the corrected draft final regulations under section 199A (section 199A final regulations) on the new qualified business income (QBI) deduction (section 199A deduction). These corrections include, among other edits, corrections to the definition and computation of excess section 743(b) basis adjustments for purposes of determining the unadjusted basis immediately after an acquisition of qualified property, as well as corrections to the description of an entity disregarded as separate from its owner for purposes of section 199A and Sections 1.199A-1 through 1.199A-6. The corrected draft has been submitted to the Federal Register for publication. On April 17, 2019, the IRS released correcting amendments and an additional correction to the final regs.

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