Kelly operates a sole proprietorship with qualified business income of $920,000. Her business paid W-2 wages of

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Kelly operates a sole proprietorship with qualified business income of $920,000. Her business paid W-2 wages of $250,000 and owns depreciable tangible property with an unadjusted basis of $410,000. Compute Kelly's allowable Section 199A deduction.

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Nov 15, 2023 05:42 AM

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Kelly operates a sole proprietorship with qualified business income of $920,000. Her business paid W-2 wages of

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To compute Kellys allowable Section 199A deduction we need to consider certain limitations and calcu... View the full answer

Income Tax Fundamentals 2013

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