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Jackie has QBI of $200,000 from an S corporation that paid her a total of $30,000 of W-2 wages and that has no qualified property.
Jackie has QBI of $200,000 from an S corporation that paid her a total of $30,000 of W-2 wages and that has no qualified property. Jackie's spouse has $90,000 of W-2 income, and Jackie and her spouse have interest income of $10,000. Jackie has itemized deduction of $30,000. Thus, total taxable income is $300,000. What is the 20% QBI deduction to be taken on their joint return? [For your answer, please use whole number (no need to round) and ignore the dollar sign and the comma.] Answer: What limits are imposed on the medical expense deduction? Check all that apply. Select one or more: a Unreimbursed medical expenses must be reduced by 7.5 percent of adjusted gross income b. Only medical expenses that have not been compensated by the insurance company or compensated by the employer are deductible c. Only prescription medicines and drugs and medical supplies prescribed by a qualified medical professional or qualified medical professionals can be deductible. Cosmetic surgery and over-the-counter medicine are not deductible O d. Only the medical expenses incurred by the taxpayer regarding the taxpayer's own medical treatment are deductible. The medical expenses incurred due to the treatment of the taxpayer's spouse or dependent and paid by the taxpayer are not deductible O e. Unreimbursed medical expenses cannot exceed half of the taxpayer's AGI Of. Unreimbursed medical expenses must be reduced by 7.5 percent of taxable income
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