Question
C is a 40% shareholder in CAS, Inc., an S corporation that operates several restaurants under a franchise name. In the current year, Cs share
C is a 40% shareholder in CAS, Inc., an S corporation that operates several restaurants under a franchise name. In the current year, Cs share of the income from CAS is $200,000. Cs share of the CAS W-2 wages for the year is $60,000. Cs taxable income before the QBI deduction is $300,000. C is single. What is Cs QBI deduction for the year?
a. $0
b. $40,000
c. $30,000
d. $60,000
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Auditing For Managers The Ultimate Risk Management Tool
Authors: K. H. Spencer Pickett, Jennifer M. Pickett
1st Edition
0470090987, 978-0470090985
