In 2018, Wilma Ways sole proprietorship, WW Bookstore, generated $120,000 net profit. a. Compute Wilmas 2018 self-employment tax. b. Compute Wilmas allowable Section 199A deduction,
In 2018, Wilma Ways sole proprietorship, WW Bookstore, generated $120,000 net profit.
a. Compute Wilmas 2018 self-employment tax.
b. Compute Wilmas allowable Section 199A deduction, assuming $43,000 of W-2 wages and $90,000 unadjusted basis of tangible depreciable property.
c. Compute Wilmas 2018 taxable income from her bookstore activity.
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Authors: Robert Anthony, James S. Reece, Kenn Merchant, David Hawkins
11th International Edition
0071232265, 978-0071232265
