Question: Problem 1. Scott and Cindy are married and will file a joint tax return. Scott has a sole proprietorship (not a specified services business) that

Problem 1. Scott and Cindy are married and will file a

Problem 1. Scott and Cindy are married and will file a joint tax return. Scott has a sole proprietorship (not a "specified services business) that generates qualified business income of $300,000. The proprietorship pays W-2 wages of $40,000 and holds property with an unadjusted basis of $10,000. Laura is employed by a local accounting firm. Their taxable income before the QBI deduction is $386,600 (this is also their modified taxable income). Determine Scott and Cindy's QBI deduction

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