Shelly reports $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly's proprietorship paid $30,000
Question:
Shelly reports $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly's proprietorship paid $30,000 in W-2 wages and owns $20,000 of qualified property. Shelly’s spouse earned $74,000 of wages as an employee, they earned $20,000 of interest income during the year, and they wall lae filing jointly using the standard deduction. What is their QBI deduction for 2018?
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Shelly and her spouse have taxable income before the QBI deduction of 270000 this is als...View the full answer
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Related Book For 
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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