Question: ACCT 431 Individual Chapter 15 Take Home Assignment [4 Questions each 4 points]Please show all your detail steps to calculate the answer(s) of each question.If

ACCT 431 Individual Chapter 15 Take Home Assignment [4 Questions each 4 points]Please show all your detail steps to calculate the answer(s) of each question.If you just show the answer(s) to each question without showing detail steps, you will NOT earn any point for this assignment.

Please use 2020 TaxLaw

Question2. Diego and Molly are married and will file a joint return. Diego earns $300,000 from his singlemember LLC (a law firm), which the tax law treats as a sole proprietorship. Wages paid by thelaw firm amount to $40,000; the law firm owns no significant property. Molly is employed as atax manager by a local CPA firm. Diego and Mollys modified taxable income is $381,400 (thisalsoequals taxableincome before the QBI deduction).

What is their tentative QBI based on the W2 Wages/Capital Investment Limit?

Determinetheir allowable QBI deduction?

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