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Bob and Sue Smith, both age 40, are married filing a joint return. Bob and Sue are involved in several businesses and have contacted you

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Bob and Sue Smith, both age 40, are married filing a joint return. Bob and Sue are involved in several businesses and have contacted you inquiring about the Section 199A qualified business income (QBI) deduction. They have provided information for their Year 1 business income in the exhibit above. Bob and Sue do not elect to aggregate any of their qualifying businesses. Their only other income in Year 1 is Sue's salary of $275,000 from her full-time job as an analyst. They will not be itemizing 5 deductions in Year 1 and will use the married filing jointly (MFJ) standard deduction of $24,400 Using the information above and the Year 1 business income information provided in the exhibit, calculate the amount of Bob and Sue's qualified business income deduction for each business and the total Section 199A qualified business income deduction and enter the amounts in the table below. For purposes of this simulation, ignore any deduction for one-half of self-employment tax. Use positive whole numbers, and if the amount of the deduction is zero, enter a zero (0) 1 Name of Business QBI Deduction Mar era -25 2 Alpha Partnership Ltd. 3 Bravo Partners 4 Charlie Company Inc. 5 Delta Company LLC 6 Echo Ltd. Ptrshp -... 7 Foxtrot Consulting -ant, 8 Total Bob and Sue Smith, both age 40, are married filing a joint return. Bob and Sue are involved in several businesses and have contacted you inquiring about the Section 199A qualified business income (QBI) deduction. They have provided information for their Year 1 business income in the exhibit above. Bob and Sue do not elect to aggregate any of their qualifying businesses. Their only other income in Year 1 is Sue's salary of $275,000 from her full-time job as an analyst. They will not be itemizing 5 deductions in Year 1 and will use the married filing jointly (MFJ) standard deduction of $24,400 Using the information above and the Year 1 business income information provided in the exhibit, calculate the amount of Bob and Sue's qualified business income deduction for each business and the total Section 199A qualified business income deduction and enter the amounts in the table below. For purposes of this simulation, ignore any deduction for one-half of self-employment tax. Use positive whole numbers, and if the amount of the deduction is zero, enter a zero (0) 1 Name of Business QBI Deduction Mar era -25 2 Alpha Partnership Ltd. 3 Bravo Partners 4 Charlie Company Inc. 5 Delta Company LLC 6 Echo Ltd. Ptrshp -... 7 Foxtrot Consulting -ant, 8 Total

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