Question
Kelsey owns a floral shop as a single-member LLC. She is a single cash basis, calendar-year taxpayer. For the year, she had the following information:
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Kelsey owns a floral shop as a single-member LLC. She is a single cash basis, calendar-year taxpayer. For the year, she had the following information:
Ordinary income from LLC $200,000
Taxable income $180,000
Modified taxable income $178,000
W-2 wages paid to employees $45,000
Qualified property basis $15,000
SE tax deduction $21,290
IRA contributions $4,000
What is her QBI deduction?
$4,423
$31,319
Kelsey owns a floral shop as a single-member LLC. She is a single cash basis, calendar-year taxpayer. For the year, she had the following information:
Ordinary income from LLC $200,000
Taxable income $180,000
Modified taxable income $178,000
W-2 wages paid to employees $45,000
Qualified property basis $15,000
SE tax deduction $21,290
IRA contributions $4,000
What is her QBI deduction?
|
| ||
| $4,423 | ||
| $31,319 | ||
|
|
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Roberts, Hamdi Driss
8th Canadian Edition
01259270114, 9781259270116
