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Christian was a partner in an engineering firm (a qualified trade or business) and had $172,000 of qualified business income and $34,000 of W-2 wages.
- Christian was a partner in an engineering firm (a qualified trade or business) and had $172,000 of qualified business income and $34,000 of W-2 wages. Overall, he had taxable income of $186,000. However, his share of the unadjusted basis immediately after acquisition (UBIA) of qualified property with respect to the trade or business was $500,000. How much will his QBI deduction be?
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Financial Accounting
Authors: Jr. Belverd E. Needles, Marian Powers
9th Edition
0547070020, 978-0547070025
