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In 2020, Meghann Carlson, a single taxpayer, has QBI of $110,000 and modified taxable income of $78,000 (this is also her taxable income before the
In 2020, Meghann Carlson, a single taxpayer, has QBI of $110,000 and modified taxable income of $78,000 (this is also her taxable income before the QBI deduction). Given this information, what is Meghann's QBI deduction? Meghann's QBI deduction is $ Charlotte is a partner in, and sales manager for, CD Partners, a domestic business that is not a "specified services" business. During the tax year, she receives guaranteed payments of $250,000 from CD Partners for her services to the partnership as its sales manager. In addition, her distributive share of CD Partners' ordinary income (its only item of income or loss) was $175,000. What is Charlotte's qualified business income? $
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