Exercise $2-21($Algorithmic$)($LO$.3,4)$

In $2022,$ Henry Jones $($Social Security number $123-45-6789)$ works as a freelance driver, finding customers using various platforms like

Uber and Grubhub. He is single and has no other sources of income. In $2022,$ Henry's qualified business income from driving is $$134,200.$

Assume Henry takes the standard deduction of $$12,950.$

Click here to access the $2022$ individual tax rate schedule to use for this problem.

Assume the QBI amount is net of the self$-$employment tax deduction.

a$.$ Compute Henry's QBI deduction and his tax liability for $2022.$

QBI deduction: $

Tax liability $($round to the nearest cent$)$: $