Qualified Business Income (QBI) Final Regulations for Agriculture

Roger McEowen, interviewed by Christina Loren. After many months of delay, the IRS has finally issued final regulations providing guidance to agricultural/horticultural cooperatives and patrons with respect to the qualified business income (QBI) deduction. The final regulations make several changes to the Proposed Regulations, and are important to patrons of agricultural cooperatives and return preparers. Professor McEowen discusses the changes to the proposed regulations.

Roger McEowen is the Kansas Farm Bureau Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. From RFD-TV Market Day Report, January 25, 2021; uploaded with permission.