I:8-58 Qualified Business Income Deduction. Cathy is a 50% partner in the CD partnership, which owns a
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I:8-58 Qualified Business Income Deduction. Cathy is a 50% partner in the CD partnership, which owns a small manufacturing business. In the current year, the business had qualified business income of $2.8 million. CD partnership paid W-2 wages of $900,000 and owns depreciable tangible property with an unadjusted basis of $1,600,000. What is Cathy’s qualified business deduction (ignoring the ½ deduction for self-employment taxes)?
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Related Book For 
Pearsons Federal Taxation Corporations Partnerships Estates And Trust 2023
ISBN: 9780137730391
36th Edition
Authors: KENNETH E. ANDERSON, DAVID S. HULSE, TIMOTHY J. RUPERT Richard J. Joseph LeAnn Luna
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