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Campbell, a single taxpayer has $400,000 of profits (net of the deduction for self-employment taxes, the self-employed health insurance deduction, and the deduction for contributions
Campbell, a single taxpayer has $400,000 of profits (net of the deduction for self-employment taxes, the self-employed health insurance deduction, and the deduction for contributions to qualified self-employment retirement plans) from her general store, which she operates as a sole proprietorship. She has no employees $40.000 of qualified property and $500.000 of taxable income before the deduction for qualified business Income. How much is Campbell's deduction for qualified business income? Multiple Choice $100 000 $80.000 $20.000 O S1000
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