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14 Jenna Parker owns and manages her single-member LLC, which provides a wide variety of financial services to her clients. She is married and will
14 Jenna Parker owns and manages her single-member LLC, which provides a wide variety of financial services to her clients. She is married and will file a joint tax return with her spouse, Paul. Her LLC reports $300,000 of net income, W-2 wages of $120,000, and assets with an unadjusted basis of $75,000. Their taxable income before the QBI deduction is $285.000 (this is also their modified taxable income). What is their Q deduction for 2020? (ignore self employment tax when calculating)
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