Tanuja Singh is a CPA and operates her own accounting firm $($Singh CPA, LLC$).$ As a single$-$member LLC$,$ she reports her accounting firm operations as a sole proprietor. In $2023,$ Tanuja has QBI from her accounting firm of $$\mathrm{}\mathrm{}760,000,$ reports W$-2$ wages of $$1\mathrm{}73,000,$ and the unadjusted basis of property used in the LLC is $$675,000.$ Tanuja is married and will file a joint tax return with her spouse. Their taxable income before the QBI deduction is $$965,000,$ and their modified taxable income is $$848,000.$ What is Tanuja's QBI deduction for $2023?$ 

  

Answer rating: 100% (QA)

To calculate Tanujas QBI Qualified Business Income deduction for 2023 we need to consider several fa... View the full answer