Question
Jane, a single taxpayer, operates a farm as a sole proprietor. The farm has two employees who are paid a total of $40,000. Assume that
Jane, a single taxpayer, operates a farm as a sole proprietor. The farm has two employees who are paid a total of $40,000. Assume that the business has no significant assets. The business generates $130,000 of income, and her taxable income before the QBI deduction is $175,000. What is Jane's deduction for QBI?
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Contemporary Auditing
Authors: Michael C. Knapp
10th edition
978-1285066608, 128506660X, 978-1305445161, 1305445163, 978-1305970816
