Tax Attorney, Steve Looney, provides insight for the Law360 article, “Safe Harbor For Pass-Through Break May Invite Gamesmanship.” Looney discusses 199A Deduction and REITs.
“One has to question the soundness of the reasoning, because under 199A those individuals who hold REITs get a 20 percent deduction and those REITs have triple net leases,” Looney said. “I think it will be hard outside of the safe harbor for a triple net lease to work. And I already told you that’s not fair, because REITs will get 20 percent and have triple net leases, and the C corporations have them too and get the 21 percent rate.”
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