Question: ! Required information Problem 1 5 - 4 6 ( LO 1 5 - 3 ) ( Algo ) [ The following information applies to
Required information
Problem LO Algo
The following information applies to the questions displayed below.
Mason single is a percent shareholder in Angels Corporation an S Corporation Mason receives a $ salary working full time for Angels Corporation. Angels Corporation reported $ of taxable business income for the year. Before considering his business income allocation from Angels and the selfemployment tax deduction if any Mason's adjusted gross income is $all salary from Angels Corporation Mason claims $ in itemized deductions. Answer the following questions for Mason.
Note: Leave no answer blank. Enter zero if applicable.
Problem Part c Algo
c Assume the same facts as question b except that Angels Corporation reported $ of taxable business income for the year. What is Mason's deduction for qualified business income? Ignore the wagebased limitation when computing the deduction.
Deduction for qualified business income.
Note: $ is not the answer. Help me figure out what im doing wrong please.
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