Barney is a managing LLC member treated as a general partner) of BG LLC and is allocated qualified business income (QBI) from BG of $800,000. (BG is not a "specified service trade or business.") Barney's Schedule K-1 reflects a $300,000 share of BG's W-2 wages and a $1,200,000 share of BG's UBIA (unadjusted basis immediately after acquisition). Assume also that Barney's taxable income excluding capital gains is $600,000 and that Barney has no income from REITs, publicly traded partnerships, or other qualified businesses. Refer to the QBI discussion in this chapter, the discussion in text Section 15-3, and the flowchart in Concept Summary 15.2. a. Calculate Barney's deduction under $ 199A for qualified business income. Barney's tentative QBI deduction (before considering any limitations) is $ 160,000 . The tentative QBI for this trade or business is subject to the greater of two limitations. The first limitation is based on the LLC's W-2 wages is $ 240,000 X and the second limitation based on the LLC's W-2 wages and property basis is $ 60,000 x . Therefore, based on these limitations is Barney's QBI deduction is $ 60,000 X. In addition, barney's QBI deduction is subject to more limitation, which is based on his taxable income excluding capital gains As a result, Barney's final QBI deduction is $