Jackie has QBI of $200,000 from an S corporation that paid her a total of $30,000 of

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Jackie has QBI of $200,000 from an S corporation that paid her a total of $30,000 of W-2 wages and that has no qualified property. Jackie’s spouse has $60,000 of W-2 income, and Jackie and her spouse have interest income of $10,000. Thus, total taxable income is $300,000. What is the 20%

QBI deduction to be taken on their joint return?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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