Chris is carrying on accounting practice as a sole proprietor earning $150,000 for the year 2019. His wife has a full -time job and her wages (W-2 Income) is $80,000. Chris has one employee and pays $50,000 salary to him. The Chris family files joint returns and avails benefits of standard deductions. Please calculate his Section 199A benefits for the year 2019. Please explain your answer.

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Calculation of Taxable Income before Section 199A QBI deduction Income from sole proprietorship 1... View the full answer