Steve is married filing jointly with his wife Nancy and operates a business as a sole proprietor. His business is a small tax and accounting business where he has two employees who are paid a total of $90,000 in wages. The business has no significant assets. In 2023, Steve reported qualified business income of $225,000 and the taxable income before the QBI deduction of $229,000. What is the amount of Steve and Nancys QBI deduction for 2023? (2 points)

Answer rating: 100% (QA)

To calculate the amount of Steve and Nancys QBI deduction for 2023 we need to use the Qualified Busi... View the full answer