George, a single taxpayer, has taxable income before the QBI deduction of $ 2 1 2 , 1 0 0 . George, a CPA, operates an accounting practice as a single member LLC ( which he reports as a sole proprietorship ) . During 2 0 2 3 , his proprietorship generates qualified business income of$ 1 5 0 , 0 0 0 , W - 2 wages of $ 1 2 5 , 0 0 0 , and $ 1 0 , 0 0 0 of qualified property. Assume the QBI amount is net of the self - employment tax deduction. What is George's QBI deduction for 2 0 2 3