The IRS has issued final regulations regarding the qualified business income (QBI) deduction. The regs provide guidance on the treatment of previously suspended losses included in QBI and the determination of the Sec. 199A deduction for taxpayers that hold interests in regulated investment companies (RICs) and certain estates and trusts. The final regs adopt the February 2019 proposed regs with additional modifications. Among other things, the regs provide that previously disallowed losses allowed in the tax year generally are considered for purposes of computing QBI, except to the extent they were disallowed, suspended, limited or carried over from tax years ending before Jan. 1, 2018.