In 2017, Loftis, Inc., a calendar year taxpayer, has QPAI of $4.5 million and taxable income of
Question:
In 2017, Loftis, Inc., a calendar year taxpayer, has QPAI of $4.5 million and taxable income of $3.1 million. Because Loftis outsources much of its work to independent contractors, its W–2 wage base, which for Loftis is related entirely to production activities, is $214,000. What is Loftis, Inc.’s DPAD for 2017?
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The formula is 9 Lesser of 1 Qualified production activities income QPAI or 2 Taxable or modified ...View the full answer
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Related Book For 
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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