Question
Determine QBI using Form 8995 for a 2020 1040 tax filing given the following information: Daniels Consulting had 13,650 of business income on Schedule C,
Determine QBI using Form 8995 for a 2020 1040 tax filing given the following information: Daniels Consulting had 13,650 of business income on Schedule C, and 1,929 of self-employment taxes on Schedule SE. Taxable income before QBI deduction is 88,841 and net capital gain is 400.
Assume no carry forward, no REIT dividends and PTP income or loss.
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Managerial Accounting
Authors: Karen Braun, Wendy Tietz, Louis Beaubien
4th Canadian Edition
013544344X, 9780135443446
