Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Charli, a single taxpayer, operates a construction business as a sole proprietor. This year, charli earned $225,000 of qualified business income after paying $40,000 of
Charli, a single taxpayer, operates a construction business as a sole proprietor. This year, charli earned $225,000 of qualified business income after paying $40,000 of wages to her employees. The unadjusted basis of her business property totals $10,000. charli taxable income before the deduction for qualified business income is $200,000. What is the amount of her QBI deduction?
$40,000
$26,650
$45,000
$25,000
$18,350
\
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started