Exercise $2-21($Algorithmic$)($LO$.3,4)$ In $2023,$ Henry Jones $($Social Security number $123-45-6789)$ works as a freelance driver, finding customers using various platforms like Uber and Grubhub. He is single and has no other sources of income. In $2023,$ Henry's qualified business income from driving is $$89,200.$ Assume Henry takes the standard deduction of $$13,850.$ Click here to access the $2023$ individual tax rate schedule to use for this problem. Question Content Area Assume the QBI amount is net of the self$-$employment tax deduction. a$.$ Compute Henry's QBI deduction and his tax liability for $2023.$ QBI deduction: $fill in the blank $55$d$6$da$08$c$00$e$017\_115,070$ Tax liability $($rounded to the nearest cent$)$: $fill in the blank $55$d$6$da$08$c$00$e$017\_2$ Feedback Area Feedback In determining QBI, all deductions attributable to a trade or business are taken into account. As a result, a taxpayer must reduce QBI by the self$-$employment tax deduction $[164($f$)],$ the self$-$employed health insurance deduction $[162($l$)],$ and any deduction for contributions to qualified retirement plans $[404].$ Question Content Area b$.$ Complete Henry's $2023$ Form $8995($Qualified Business Income Deduction Simplified Computation$).$ Enter all amounts as positive numbers. Form $8995$ Department of the Treasury Internal Revenue Service Qualified Business Income Deduction Simplified Computation Attach to your tax return. Go to www$.$irs.gov$/$Form$8995$ for instructions and the latest information. OMB No$.1545-22942023$ Attachment Sequence No$.55$ Name$($s$)$ shown on return Henry Jones Your taxpayer identification number $123-45-6789$ Note: You can claim the qualified business income deduction only if you have qualified business income from a qualified trade or business, real estate investment trust dividends, publicly traded partnership income, or a domestic production activities deduction passed through from an agricultural or horticultural cooperative. See instructions. Use this form if your taxable income, before your qualified business income deduction, is at or below $$182,100($$$364,200$ if married filing jointly$),$ and you aren't a patron of an agricultural or horticultural cooperative. $1($a$)$ Trade, business, or aggregation name $($b$)$ Taxpayer identification number $($c$)$ Qualified business income or $($loss$)$ i Henry Jones Transportation $123-45-6789$ fill in the blank $1580$affd$1$f$8$efd$8\_189,200$ ii iii iv v $2$ Total qualified business income or $($loss$).$ Combine lines $1$i through $1$v$,$ column $($c$)..2$ fill in the blank $1580$affd$1$f$8$efd$8\_289,2003$ Qualified business net $($loss$)$ carryforward from the prior year $.................3()4$ Total qualified business income. Combine lines $2$ and $3.$ If zero or less, enter $-0-...4$ fill in the blank $1580$affd$1$f$8$efd$8\_389,2005$ Qualified business income component. Multiply line $4$ by $20\%(0\mathrm{.}20)..............................5$ fill in the blank $1580$affd$1$f$8$efd$8\_4$