Question
Jackson, who is single, is a farmer and files Schedule F. For 2021, he had a net profit from the farm of $96,550 (after factoring
Jackson, who is single, is a farmer and files Schedule F. For 2021, he had a net profit from the farm of $96,550 (after factoring in the self-employment adjustments to his income). He has no loss to carry forward from prior years. Jackson's taxable income, before applying the QBI deduction, is $147,966. What is Jackson's QBI deduction?
A) 0%
B)$19,310
C)$29,593
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CISA Certified Information Systems Auditor Practice Exams
Authors: Peter H. Gregory
1st Edition
1260459845, 978-1260459845
