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Jacob is a member of WCC (an LLC taxed as a partnership). Jacob was allocated $62,400 of business income from WCC for the year.
Jacob is a member of WCC (an LLC taxed as a partnership). Jacob was allocated $62,400 of business income from WCC for the year. Jacob's marginal income tax rate is 25 percent. The business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional Medicare tax. What is Jacob's QBI deduction?
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Essentials Of Federal Taxation 2019
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
10th Edition
1260189988, 1260189678, 9781260189674, 978-1259917103, 125991710X, 978-1260190045
