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year 2021, under § 1.148-5(e)(2)(iii)(B)(1), a broker’s commission or similar fee for the acquisition of a guaranteed investment contract or investments purchased for a yield restricted defeasance escrow is reasonable if (1) the amount of the fee that the issuer treats as a qualified administrative cost does not exceed the lesser of (A) $42,000, and (B) 0.2 percent of the computational base (as defined in § 1.148-5(e)(2)(iii)(B)(2)) or, if more, $4,000; and (2) for any issue, the issuer does not treat more than $118,000 in brokers’ commissions or similar fees as qualified administrative costs for all guaranteed investment contracts and investments for yield restricted defeasance escrows purchased with gross proceeds of the issue. .25 Gross Income Limitation for a Qualifying Relative. For taxable years beginning in 2021, the exemption amount referenced in § 152(d)(1)(B) is $4,300. .26 Election to Expense Certain Depreciable Assets. For taxable years beginning in 2021, under § 179(b)(1), the aggregate cost of any § 179 property that a taxpayer elects to treat as an expense cannot exceed $1,050,000 and under § 179(b)(5)(A), the cost of any sport utility vehicle that may be taken into account under § 179 cannot exceed $26,200. Under § 179(b)(2), the $1,050,000 limitation under section 179(b)(1) is reduced (but not below zero) by the amount by which the cost of § 179 property placed in service during the 2021 taxable year exceeds $2,620,000. .27 Qualified Business Income. For taxable years beginning in 2021, the threshold amount under § 199A(e)(2) is $329,800 for married filing joint returns, $164,925 for married filing separate returns, and $164,900 for all other returns.

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year 2021, under § 1.148-5(e)(2)(iii)(B)(1), a broker’s commission or similar fee for the acquisition of a guaranteed investment contract or investments purchased for a yield restricted defeasance escrow is reasonable if (1) the amount of the fee that the issuer treats as a qualified administrative cost does not exceed the lesser of (A) $42,000, and (B) 0.2 percent of the computational base (as defined in § 1.148-5(e)(2)(iii)(B)(2)) or, if more, $4,000; and (2) for any issue, the issuer does not treat more than $118,000 in brokers’ commissions or similar fees as qualified administrative costs for all guaranteed investment contracts and investments for yield restricted defeasance escrows purchased with gross proceeds of the issue. .25 Gross Income Limitation for a Qualifying Relative. For taxable years beginning in 2021, the exemption amount referenced in § 152(d)(1)(B) is $4,300. .26 Election to Expense Certain Depreciable Assets. For taxable years beginning in 2021, under § 179(b)(1), the aggregate cost of any § 179 property that a taxpayer elects to treat as an expense cannot exceed $1,050,000 and under § 179(b)(5)(A), the cost of any sport utility vehicle that may be taken into account under § 179 cannot exceed $26,200. Under § 179(b)(2), the $1,050,000 limitation under section 179(b)(1) is reduced (but not below zero) by the amount by which the cost of § 179 property placed in service during the 2021 taxable year exceeds $2,620,000. .27 Qualified Business Income. For taxable years beginning in 2021, the threshold amount under § 199A(e)(2) is $329,800 for married filing joint returns, $164,925 for married filing separate returns, and $164,900 for all other returns.