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Jackson, single filing status, owns a sole proprietorship that is a specified service business. The business has QBI of $180,000 after all applicable deductions. The
Jackson, single filing status, owns a sole proprietorship that is a specified service business. The business has QBI of $180,000 after all applicable deductions. The sole proprietorship paid total W-2 wages of $50,000 and held qualified property of $2,000,000. Jackson's taxable income before the QBI deduction is $169,900. What is his QBI deduction for the current year?
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