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George and Nancy are married and will file a joint tax return. Nancy has a sole proprietorship ( not a specified services business ) that

George and Nancy are married and will file a joint tax return. Nancy has a sole proprietorship
(not a specified services business) that generates qualified business income of $300,000. The
proprietorship pays W2 wages of $40,000 and holds property with an unadjusted basis of
$10,000. George is employed by a local school district. Their taxable income before the QBI
deduction is $424,200(this is also their modified taxable income) Assume the QBI amount is net of the self-employment tax deduction.
For 2023
a. George and Nancys QBI deduction is [1 point]
b. George and Nancys taxable income is [1 point]
c. George and Nancys tax liability is [1 point]
After providing you the original information in the problem, George finds out that he will be receiving a $6,000 bonus in December 2023(increasing their taxable income before the QBI deduction by this amount). Redetermine George and Nancy's QBI deduction, taxable income, and tax liability for 2023.
For 2023
d. George and Nancy's QBI deduction is [1 point]
e. George and Nancy's taxable income is [1 point]
f. George and Nancys tax liability is [1 point]

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