Tax Cuts and Jobs Act - New Business Income Deduction

This handout contains an overview of the new tax law that was signed into law on December 22, 2017. This overview focuses on changes for individuals whose business deductions exceed gross income. Information includes the new excess business loss limitation, pass-through entities, and net operating losses.


  1. Excess business loss limitation.

  2. Individual net operating loss.

  3. Partners.

  4. S corporation shareholders.

  5. Estate or trust NOL.


  1. Taxpayers with a business that has a net loss.

  2. Partners or shareholders in a partnership or S corporation.