Question: Problem 9 - 4 2 ( LO . 6 ) Scott and Laura are married and will file a joint tax return. Scott has a
Problem LO
Scott and Laura 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 $ The proprietorship pays mathrmW wages of $ and holds qualified property with an unadjusted basis of $ Laura is employed by a local school district. Their taxable income before the QBI deduction is $ this is also their modified taxable income
a Determine Scott and Laura's QBI deduction, taxable income, and tax liability for
b After providing you with the original information in the problem, Scott finds out that he will be receiving a $ bonus in December increasing their taxable income before the QBI deduction by this amount Redetermine Scott and Laura's QBI deduction, taxable income, and tax liability for
c What is the marginal tax rate on Scott's bonus? Enter the percent to one decimal place.
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