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Required information

Problem $15-46($LO $15-3)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Mason $($single$)$ is a $50$ percent shareholder in Angels Corporation $($an S Corporation$).$ Mason receives a $$189,500$ salary

working full time for Angels Corporation. Angels Corporation reported $$438,000$ of taxable business income for the year.

Before considering his business income allocation from Angels and the self$-$employment tax deduction $($if any$),$ Mason's

adjusted gross income is $$189,500($all salary from Angels Corporation$).$ Mason claims $$69,000$ in itemized deductions.

Answer the following questions for Mason.

Note: Leave no answer blank. Enter zero if applicable.

Problem $15-46$ Part c $($Algo$)$

c$.$ Assume the same facts as question $($b$),$ except that Angels Corporation reported $$188,000$ of taxable business income for the year.

What is Mason's deduction for qualified business income? Ignore the wage$-$based limitation when computing the deduction.