Question
Ashley (a single taxpayer) is the owner of ABC, LLC. The LLC (a sole proprietorship) reports QBI of $900,000 and is not a specified services
Ashley (a single taxpayer) is the owner of ABC, LLC. The LLC (a sole proprietorship) reports QBI of $900,000 and is not a specified services business. ABC paid total W-2 wages of $300,000, and the total unadjusted basis of property held by ABC is $30,000. Ashleys taxable income before the QBI deduction is $740,000 (this is also her modified taxable income). What is Ashleys QBI deduction for 2020?
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Survey of Accounting
Authors: Carl S Warren
5th Edition
978-0538749091
