Jordan, a single taxpayer, operates a flower store as a sole proprietor. In 2022, her business generates
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Question:
Jordan, a single taxpayer, operates a flower store as a sole proprietor. In 2022, her business generates income of $140,000, and incur expenses of $40,000, and $2,950 of interest income from her business deposits. Her AGI is $102,950. Compute Jordan's modified taxable income (MTI). Estimate the QBI deduction for Jordan. What is Jordan's taxable income?
Related Book For
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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