Jacob is a member of WCC (an LLC taxed as a partnership). Jacob was allocated $62,400...
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Jacob is a member of WCC (an LLC taxed as a partnership). Jacob was allocated $62,400 of business income from WCC for the year. Jacob's marginal income tax rate is 25 percent. The business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional Medicare tax. What is Jacob's QBI deduction? Jacob is a member of WCC (an LLC taxed as a partnership). Jacob was allocated $62,400 of business income from WCC for the year. Jacob's marginal income tax rate is 25 percent. The business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional Medicare tax. What is Jacob's QBI deduction?
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Related Book For
Essentials of Federal Taxation 2019
ISBN: 9781260190045
10th edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Posted Date:
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