Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shellys proprietorship paid $30,000

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Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly’s proprietorship paid $30,000 in W–2 wages and has $20,000 of qualified property. Shelly’s spouse earned $74,400 of wages as an employee, they earned $20,000 of interest income during the year, and they will be filing jointly and using the standard deduction. What is their QBI deduction for 2019?

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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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Question Posted: Sep 18, 2019 01:26 PM

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Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shellys proprietorship paid $30,000

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Shelly and her spouse have taxable income before the QBI deduction of 270000 this is also ...View the full answer

South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts

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