Question
Ellie (a single taxpayer) is the owner of a sole proprietorship, which reports QBI of $900,000 and is not a specified services business. The proprietorship
Ellie (a single taxpayer) is the owner of a sole proprietorship, which reports QBI of $900,000 and is not a specified services business. The proprietorship paid total W-2 wages of $300,000, and the total unadjusted basis of property held by ABC is $30,000. Ellies taxable income before the QBI deduction is $940,000 (this is also her modified taxable income).What is Ellies QBI deduction for 2018?
a. $75,750.
b. $148,000.
c. $150,000.
d. $180,000.
e. $188,000.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
15th edition
978-1118159644, 9781118562185, 1118159640, 1118147294, 978-1118147290
