Daily Tax Report ®

Nearly 27 Million Will Take Pass-Through Write-Off in 2019: JCT

March 13, 2019, 6:48 PM

The Joint Committee on Taxation expects nearly 27 million taxpayers who report pass-through income on three different forms to take the 2017 tax overhaul’s 20 percent deduction for pass-through businesses in 2019.

That’s just above 68 percent of the 39 million taxpayers who file Schedule C, E, or F forms with their tax returns, the nonpartisan congressional body, which estimates the revenue effects of tax laws, said in a slide presentation posted March 13.

  • The JCT estimates that 91.5 percent of the income reported on those forms will be eligible for the write-off during...
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