the items referred to in subparagraph (A)(ii) (as determined therein) and the qualifying domestic investment of the trust or estate for the taxable year, shall be apportioned between the beneficiaries and the fiduciary (and among the beneficiaries) under regulations prescribed by the Secretary, and (ii) for purposes of paragraph (4), adjusted gross income of the trust or estate shall be determined as provided in section 67(e) with the adjustments described in such paragraph. (C) Regulations The Secretary may prescribe rules requiring or restricting the allocation of items and qualifying domestic investment under this paragraph and may prescribe such reporting requirements as the Secretary determines appropriate. (4) Application to individuals In the case of an individual, subsection (a)(2) shall be applied by substituting adjusted gross income for taxable income . For purposes of the preceding sentence, adjusted gross income shall be determined— (A) after application of sections 86, 135, 137, 219, 221, 222, and 469, and (B) without regard to this section and section 199. (5) Application of other rules Rules similar to the rules of paragraphs (3), (4), (5), (6), (7), and (10) of section 199(d) shall apply for purposes of this section. . (b) Conforming amendments (1) Section 56(d)(1)(A) of such Code is amended by striking deduction under section 199 both places it appears and inserting deductions under sections 199 and 200 . (2) Section 56(g)(4)(C) of such Code is amended by adding at the end the following new clause: (vii) Deduction for domestic business income Clause (i) shall not apply to any amount allowable as a deduction under section 200. . (3) The following provisions of such Code are each amended by inserting 200, after 199, . (A) Section 86(b)(2)(A). (B) Section 135(c)(4)(A). (C) Section 137(b)(3)(A). (D) Section 219(g)(3)(A)(ii). (E) Section 221(b)(2)(C)(i). (F) Section 222 (b)(2)(C)(i). (G) Section 246(b)(1). (H) Section 469(i)(3)(F)(iii). (4) Section 163(j)(6)(A)(i) of such Code is amended by striking