Question
Jenna Parker owns and manages her single member LLC (which she taxes as a sole proprietorship) that provides services to her clients (i.e., specified service
Jenna Parker owns and manages her single member LLC (which she taxes as a sole proprietorship) that provides services to her clients (i.e., specified service business). Her LLC reports net income of $100,000 after all applicable deductions, W-2 wages of $30,000, and assets with an unadjusted basis of $100,000. She is unmarried without dependents, and has a net long-term capital gain of $50,000. Assuming Jenna's itemize deductions are $10,000, what is her QBI deduction for the current year?
Group of answer choices
$15,000
$17,490
$18,745
$20,000
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
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