Question: FOR 2022 PLEASE 5. (4 POINTS) For the year 2022, explain in detail what you know regarding the Qualified Business Income deduction in relation to

FOR 2022 PLEASE

5. (4 POINTS) For the year 2022, explain in detail what you know regarding the Qualified Business Income deduction in relation to the following: - What is the deduction for and why was it created? - Where does it fall in the 1040 tax formula? - Who can claim the deduction? - How is the general deduction calculated for individuals under the taxable income limit for phase-out by filing status

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