Assume the same facts as in Problem 33, except that Susans business generates $150,000 of qualified business
Question:
Assume the same facts as in Problem 33, except that Susan’s business generates $150,000 of qualified business income. What is Susan’s QBI deduction?
Problem 33
Susan, a single taxpayer, owns and operates a bakery (as a sole proprietorship). The business is not a “specified services” business. In 2019, the business pays $100,000 in W–2 wages, has $150,000 of qualified property, and generates $350,000 of qualified business income. Susan has no other items of income or loss and will take the standard deduction. What is Susan’s qualified business income deduction?
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Susans taxable income before the QBI deduction is 137800 her proprietorship net income less t...View the full answer
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Related Book For 
South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts
ISBN: 9780357109168
43rd Edition
Authors: William A. Raabe, James C. Young, William H. Hoffman, Annette Nellen, David M. Maloney
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