In 2015, Loftis, Inc., a calendar year taxpayer, has QPAI of $4.5 million and taxable income of

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In 2015, Loftis, Inc., a calendar year taxpayer, has QPAI of $4.5 million and taxable income of $3.1 million. Because Loftis outsources much of its work to independent contractors, its W-2 wage base, which for Loftis is related entirely to production activities, is $214,000. What is Loftis, Inc.'s DPAD for 2015?
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South Western Federal Taxation 2016 Comprehensive

ISBN: 9781305395114

39th Edition

Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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