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. Ellie's taxable income before the QBI deduction is $940,000 (this is also her modified taxable income).What is Ellie's QBI deduction for 2018?
a.$75,750.
b.$148,000.
c.$150,000.
d.$180,000.
e.$188,000.
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Accounting
Authors: Peter J Eisen
6th Edition
143800138X, 978-1438001388
