A: 1. lower/higher 2. partnerships and c corporations/all taxpayers/taxpayers in certain pass-through operating businesses 3. does/does not

B: 1. sumet 2. 10%/15%/20%/25% 3. including/excluding l

C: 1. W-2/M-1/M-3 2. of the partner's property contributions during the year/of the partner's capital account at year-end/of the partnership's depreciable property

Discussion Question 21-9 (LO. 7, 8) Answer the following questions regarding the qualified business income deduction under $ 199A. a. What is the purpose of the qualified business income deduction under $ 199A? effective tax rate on QBI to The qualified business income (QBI) deduction under & 199A is designed to yield a . The deduction require a corresponding cash payment. b. How is the deduction calculated? The partner's deduction is the limited to of the QBI amounts from each trade or business. The deduction, in general, is of the partner's taxable income capital gains. c. What information does the partnership report? wages A partnership must report information the partner needs to calculate the deduction limitation, including and the adjusted basis