Omar (single) is a 50 percent owner in Cougar LLC (taxed as a partnership). Omar works...

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Omar (single) is a 50 percent owner in Cougar LLC (taxed as a partnership). Omar works half time for Cougar and receives guaranteed payment of $50,000. Cougar LLC reported $450,000 of business income for the year (2023). Before considering his 50 percent business income allocation from Cougar and the self-employment tax deduction (if any). Omar's adjusted gross income is $210,000 (includes $50,000 guaranteed payment from Cougar and $180,000 salary from a different employer). Omar reports itemized deductions of $40,000. Answer the following questions for Omar. Note: Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the nearest whole dollar. Problem 15-48 Part c (Static) c. Assume the original facts and that the business income allocated to Omar is not from a specified service. What is Omar's deduction for qualified business income? Assume that 81.82 percent of the self-employment tax is from self-employment income included in QBI [ie, $225,000 business income allocation +$275,000 (business income allocation plus guaranteed payment)]. That is, the $50,000 guaranteed payment is not qualified business income. Ignore the wage-based limitation. Deduction for qualified business income Omar (single) is a 50 percent owner in Cougar LLC (taxed as a partnership). Omar works half time for Cougar and receives guaranteed payment of $50,000. Cougar LLC reported $450,000 of business income for the year (2023). Before considering his 50 percent business income allocation from Cougar and the self-employment tax deduction (if any). Omar's adjusted gross income is $210,000 (includes $50,000 guaranteed payment from Cougar and $180,000 salary from a different employer). Omar reports itemized deductions of $40,000. Answer the following questions for Omar. Note: Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the nearest whole dollar. Problem 15-48 Part c (Static) c. Assume the original facts and that the business income allocated to Omar is not from a specified service. What is Omar's deduction for qualified business income? Assume that 81.82 percent of the self-employment tax is from self-employment income included in QBI [ie, $225,000 business income allocation +$275,000 (business income allocation plus guaranteed payment)]. That is, the $50,000 guaranteed payment is not qualified business income. Ignore the wage-based limitation. Deduction for qualified business income

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