[5] Lana and Luke are married and have a taxable income of $305,000. Their share of the income from an accounting partnership is $250,000. The accounting partnership pays a total of $90,000 in W-2 wages. Under Sec. 199A, what is their deductible amount for the partnership? A. $0 B. $50,000 C. $125,000 D. $61,000

2020 Gleim Publications Inc. QBI 4101 051720 1 [6] Kevin, a single taxpayer, has a taxable income of $315,000. His share of the income from a law firm LLC is $50,000, and his share of W-2 wages is $70,000. Under Sec. 199A, what is Kevins deductible amount for the law firm LLC? A. $0 B. $10,000 C. $35,000 D. $315,000

[7] The Sec. 199A deduction is a below-the-line deduction. A. True. B. False.

[8] The Sec. 199A deduction is available to taxpayers who have qualified business income from qualified entities, including sole proprietorships, C corporations, S corporations, partnerships, trusts, and estates. A. True. B. False.