Evan, a single individual, operates a service business that earned $110,000 (after all applicable deductions) in 2022.

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Evan, a single individual, operates a service business that earned $110,000 (after all applicable deductions) in 2022. The business has no tangible property and paid no W-2 wages.

a. Compute Evan’s QBI deduction, assuming his overall taxable income before QBI is $125,000.

b. Compute Evan’s QBI deduction, assuming his overall taxable income before QBI is $175,000.

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Principles Of Taxation For Business And Investment Planning 2023

ISBN: 9781264229741

26th Edition

Authors: Sally Jones, Shelley Rhoades-Catanach, Sandra Callaghan, Thomas Kubick

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Question Posted: Jul 25, 2023 08:34 AM

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Evan, a single individual, operates a service business that earned $110,000 (after all applicable deductions) in 2022.

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a Although Evans business is a service business he is eligible to claim th...View the full answer

Principles Of Taxation For Business And Investment Planning 2023

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