Question
Bertha, a single taxpayer, has $90,000 of business income from her ice cream store that she operates as a sole proprietorship. She has no employees,
Bertha, a single taxpayer, has $90,000 of business income from her ice cream store that she operates as a sole proprietorship. She has no employees, $40,000 of qualified property, and $50,000 of taxable income before the deduction for qualified business income (QBI). Bertha reports no net capital gains or qualified dividends. How much is Bertha's QBI deduction?
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Practical Audit Quality Improvement Ensuring Effective Performance Of Internal Audit Functions
Authors: Joyce Gacheru
1st Edition
6138950577, 978-6138950578
