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Ashley ( a single taxpayer ) is the owner of ABC LLC . The LLC ( which reports as a sole proprietorship ) generates QBI
Ashley a single taxpayer is the owner of ABC LLC The LLC which reports as a sole proprietorship generates QBI of $ and is not a "specified services" business. ABC paid total wages of $ and the total unadjusted basis of property held by ABC is $ Ashley's taxable income before the QBI deduction is $this is also her modified taxable income
What is Ashley's QBI deduction for
Kyra, a single taxpayer, owns and operates a bakery as a sole proprietorship The business is not a "specified services" business. In the business pays $ of wages, has $ of qualified property, and generates $ of qualified business income. Kyra also has a parttime job earning wages of $ and receives $ of interest income. Her standard deduction is $
Assume the QBI amount is net of the selfemployment tax deduction.
What is Kyra's tentative QBI based on the W WagesCapital Investment Limit?
$ Determine Kyra's allowable QBI deduction.
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