Gary is married and files a joint return. Gary owns a sole proprietorship with QBI of $200,000.
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Gary is married and files a joint return. Gary owns a sole proprietorship with QBI of $200,000. W-2 wages are $80,000 and the total basis of property held in the business was $750,000. His taxable income before his QBI deduction was $429,800 (which was also his modified taxable income).
What is Gary’s QBI deduction?
Related Book For
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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