Sheldon Shrink MD is a practicing psychiatrist. He operates his solo practice as an LLC. After covering expenses such as office space and malpractice insurance, Dr. Shrink's practice has net revenue of $300,000. Sheldon is married to Shirley Shrink, an architect working for a major urban design firm. Her annual salary is $200,000. The Shrinks file their taxes jointly, reporting AGI of $500,000 and taxable income of $476,000. To what amount, if any, of qualified business income (QBI) are the Shrinks entitled on their 2022 Form 1040? 

$95,200.

$60,000

. $0.

$100,000

Answer rating: 100% (QA)

To calculate the qualified business income QBI for the Shrinks L... View the full answer