Content AreaSally, a single taxpayer, owns 100% of the stock of an S Corporation that operates a

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Content AreaSally, a single taxpayer, owns 100% of the stock of an S Corporation that operates a hardware store. In 2020, the hardware store has a net income of $100,000. Sally also has a dividend income of $2,000 from her investments. How much may Sally claim as her Qualified Business Income (QBI) deduction in 2020? a. $20,400 b. $0 c. $17,520 d. $17,920 e. $20,000

Posted Date: May 19, 2024 12:13 AM

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Content AreaSally, a single taxpayer, owns 100% of the stock of an S Corporation that operates a

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