Thad, a single taxpayer, has taxable income before the QBI deduction of $187,500. Thad, a CPA, operates
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Thad, a single taxpayer, has taxable income before the QBI deduction of $187,500. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2018, his proprietorship reports net income of $150,000, W-2 wages of $125,000, and $10,000 of qualified property. What is Thad's qualified business income deduction?
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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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