Question: please explain step by step Thad, a single taxpayer, has taxable income before the QBI deduction of $200,050. Thad, a CPA, operates an accounting practice

please explain step by step Thad, a single taxpayer, has taxable income please explain step by step

Thad, a single taxpayer, has taxable income before the QBI deduction of $200,050. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2022 , his proprietorship generates qualified business income of $150,000,W2 wages of $125,000, and $10,000 of qualified property. Assume the QBI amount is net of the self-employment tax deduction. What is Thad's qualified business income deduction

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