Margarita operates a sole proprietorship that earns $100,000 of qualified business income after deducting salaries of $300,000.
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Question:
Margarita operates a sole proprietorship that earns $100,000 of qualified business income after deducting salaries of $300,000. The sole proprietorship is not a specified service business. She files a single tax return for 2019. Assume her taxable income before the QBI deduction is $175,000. Margarita's QBI deduction for 2019 is:
a. $20,000.
b. $-0-.
c. $60,000.
d. $80,000.
e. $35,000.
Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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