Question: Tammy, a single taxpayer, has a part-time job at BigCo, a company in which she has no ownership interest. In addition, she owns and operates
Tammy, a single taxpayer, has a part-time job at BigCo, a company in which she has no ownership interest. In addition, she owns and operates LittleCo, a sole proprietorship that is a qualified trade or business. Tammy is paid wages of $40,000 by BigCo and has $100,000 in qualified business income from LittleCo. She has no other items of income or loss and $25,000 of itemized deductions. What is her qualified business income deduction for 2022?
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Tammys taxable income before the QBI deduction is 11500... View full answer

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