Sophie is a 50% partner in a glass production company. She is in the top tax bracket. The partnership has generated $3 million of qualified business income. The partnership paid W-2 wages of $880,000. The partnership owns depreciable tangible property with an unadjusted basis of $1.2 million. 

What is her qualified business income deduction (ignoring self-employment taxes)?

Answer rating: 100% (QA)

The qualified business income deduction QBID is a deduction that allows eligible taxpayers to dedu... View the full answer