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In 2020, Sookie is sing and has business income totaling $ 100,000 from a business classified as a specialized service business. This business did not
In 2020, Sookie is sing and has business income totaling $ 100,000 from a business classified as a specialized service business. This business did not pay any wages or have any qualified assets. Sookie also has $10,000 in dividend income from a Real Estate Investment trust, and $ 25,000 in qualified dividends from Microsoft. Sookie's 2020 taxable income (before any QBI deductions is $145,000. Calculate Sookie's deduction for qualified business income. 050 $22.000 $18.000 $2.000 $20.000
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