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Jacquise, a single taxpayer, operates a sole proprietorship that manufactures dog and cat toys. For 2020, the sole proprietorship has QBI of $245,000. Included in
Jacquise, a single taxpayer, operates a sole proprietorship that manufactures dog and cat toys. For 2020, the sole proprietorship has QBI of $245,000. Included in the QBI amount are W2 wages paid of $87,500 and the sole proprietorship has $1,150,000 of qualified property (i.e., for UB purposes). Lastly, Jacquise's taxable income before the Section 199A deduction is $256,000.
What is Jacquise's 2020 Section 199A deduction?
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