Real Estate agent as SSTB?

[Randall]

RE Agent is not specifically listed as a SSTB.  But principal asset is their personal skill.  I can't find anything specifically discussing a RE agent.  Anyone have anything specific on this?

 

[Randall]

A general article indicated that the regs gave real estate agents the non-SSTB category.  When I looked at 199A and the regs, I didn't see anything specifically listing RE agents one way or the other. 

[Lee B]

IRS FAQ # 5

 

"For taxpayers with taxable income that exceeds the threshold amount, specified service trades or businesses (SSTBs). An SSTB is a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading or dealing in certain assets, or any trade or business where the principal asset is the reputation or skill of one or more of its employees or owners. The principal asset of a trade or business is the reputation or skill of its employees or owners if the trade or business consists of the receipt of income from endorsing products or services, the use of an individual's image, likeness, voice, or other symbols associated with the individual's identity, or appearances at events or on radio, television, or other media format."

[Lion EA]

If it's not a Kardashian selling RE, then I don't think he's an SSTB.

Brass Tax Presentations has good 199A Specified Service Business chart (pdf) at...

https://brasstax.com/

[Lee B]

For what's it worth this is from the website of a CPA Firm

"Brokerage services

Defined as an SSTB: The performance of services in the field of brokerage services includes services in which a person arranges transactions between a buyer and a seller with respect to securities (as defined in Section 475(c)(2)) for a commission or fee. This includes services provided by stock brokers and other similar professionals but does not include services provided by real estate agents and brokers or insurance agents and brokers."

[Randall]

Thanks for the replies.