In 2015, Loftis, Inc., a calendar year taxpayer, has QPAI of $4.5 million and taxable income of

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In 2015, Loftis, Inc., a calendar year taxpayer, has QPAI of $4.5 million and taxable income of $3.1 million. Because Loftis outsources much of its work to independent contractors, its W-2 wage base, which for Loftis is related entirely to production activities, is $214,000. What is Loftis, Inc.'s DPAD for 2015?

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The formula is 9 Lesser of 1 Qualified production activities income QPAI or 2 Taxable or modified a...View the full answer

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