The Department of the Treasury issued its final regulations providing clarity to the pass through 20% deduction. The final regulations indicate that the origination of a loan is not treated as purchasing securities for the determination of “dealing in securities”. As a result, mortgage bankers qualify for the 20% pass through deduction since they are not a specified service trade or business. Consult your tax professional to ensure this benefit is maximized on your company’s 2018 tax returns.