A, an unmarried individual, owns and operates a computer repair shop as a sole proprietorship. The business generated $100,000 in net taxable income from operations in 2020. A has no capital gains or losses. After allowable deductions not relating to the business, A’s total taxable income for 2020 is $81,000. The business’s QBI is $100,000, the net amount of its qualified items of income, gain, deduction, and loss. What is A’s Sec. 199A deduction for 2020? ____________________ Assume the same facts as in Question 47 except that A also has $7,000 in net capital gain for 2020 included in the total taxable income of $81,000. What is A’s Sec. 199A deduction for 2020? ____________________

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QBI is the net amount of qualified items of income gain deduction and los... View the full answer