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2021 tax year Raj owns a financial consulting business as a single-member LLC. He is a single, cash basis, calendar-year taxpayer. For the year, he
2021 tax year
Raj owns a financial consulting business as a single-member LLC. He is a single, cash basis, calendar-year taxpayer. For the year, he had the following information: Ordinary income from LLC $100,000 Taxable income $115,000 Modified taxable income $110,000 W-2 wages paid to employees $40,000 Qualified property basis $10,000 SE tax deduction $7,650 SE health insurance deduction $10,000 What is his QBI deduction? $16,470 O 50 $18,470 $22,000 Step by Step Solution
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