Question: Gary is married and files a joint return. Gary owns a sole proprietorship with QBI of $300,000. W-2 wages are $50,000 and the total basis

  1. Gary is married and files a joint return. Gary owns a sole proprietorship with QBI of $300,000. W-2 wages are $50,000 and the total basis of property held in the business was $750,000. His taxable income before his QBI deduction was $376,600 (which was also his modified taxable income). What is Garys QBI deduction?

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