46 Viviana is an owner of a business that produces chocolate. She will be allowed the qualified business income deduction if the business is operated in any of the following forms except the a. partnership. Ob. C corporation. c. S corporation. d. sole proprietorship. QUESTION 47 If a taxpayer takes the standard deduction instead of itemizing, the taxpayer will not be able to take a qualified business income deduction. True False QUESTION 48 The Pine Corporation reported $400,000 of taxable income. In making a conversion to book income, the accountant had to adjust for the following: a $25,000 Section 179 deduction, but book depreciation would have been $5,000; a fine of $12,500 for overweight trucks; and a net capital loss of $10,000. What is Pine Corporation's book income? a. $422,500 b. $412,500 c. $402,500 d. $397,500