Marcia, a single individual, has qualified trade or business income of $240,000. Her business paid $80,000 of

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Marcia, a single individual, has qualified trade or business income of $240,000. Her business paid $80,000 of W-2 wages this year and has $50,000 of tangible business property.

a. Compute Marcia’s QBI deduction, assuming her overall taxable income before QBI is $300,000.

b. Compute Marcia’s QBI deduction, assuming her overall taxable income before QBI is $180,000.

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Principles Of Taxation For Business And Investment Planning 2020

ISBN: 9781259969546

23rd Edition

Authors: Sally Jones, Shelley Rhoades Catanach

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Question Posted: Aug 12, 2020 04:42 AM

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Marcia, a single individual, has qualified trade or business income of $240,000. Her business paid $80,000 of

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a Qualified business income of 240000 20 48000 tentative deduction Ded...View the full answer

Principles Of Taxation For Business And Investment Planning 2020

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