Question: Exercise 15-17 (Algorithmic) (LO. 3, 4) Thad, a single taxpayer, has taxable income before the QBI deduction of $176,000. Thad, a CPA, operates an

Exercise 15-17 (Algorithmic) (LO. 3, 4) Thad, a single taxpayer, has taxable income before the QBI deduction of $176,000. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2020, his proprietorship generates qualified business income of $140,800, W-2 wages of $105,600, and $10,000 of qualified property. Assume the QBI amount is net of the self-employment tax deduction. If required, round any division to two decimal places. Round your final answer to the nearest dollar. What is Thad's qualified business income deduction? $ 11,264 X

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