Your team will prepare a tax research memorandum detailing the statutory framework of this deduction, a thorough explanation of Section 199A and all the key definitions, a determination of whether Thomas qualifies for the deduction, a determination of the amount of this deduction, and what Thomas could do to maximize this deduction in the future. The memorandum must be supported by tax research using IRC code, tax cases if any, and other scholarly journals and references. Since some of this data is estimated, he is asking for a general analysis of his tax situation relative to this deduction.

Item	Amount
Net Income from Operations (S Corp)	$175,000
Spouse's (Rebecca) Income (from unrelated business)	$50,000
Corporate Payroll	$150,000
Corporate Total Assets	$1,500,000
Taxable Income from Form 1040	$160,000
(Total Tax for Drake's after allowable deductions unrelated to the business)

• What is qualified business income (QBI)? What is included and what is not?
• What is a qualified trade or business (SSTB)?
• Any limitations, income or otherwise on this deduction?
• What are some planning strategies for help Thomas maximize this deduction in future years?
• What is an estimate of the amount of the deduction for 2018, if any?