Kyre, a single toxpoyer, awnis and operates a bakery (as a sole proprietorship). The business is not a "specified services" business. In 2021 , the business pays $100,000 in w-2 wages, has $150,000 of qualifled property, and generates $150,000 of qualified business income. Kyra has no other items of income, deduction, or loss and will take the standard deduction of $12,550. Assume the QBI amount is net of the self-employment tax deduction. What is Kyra's Qeal deduction? fentike Tonea my wis At ite moit basic level, 5199 A perrnits an individual to deduct 20 percent of the qualified business income generated through a sole proprietorahip, a parthership, or an s corporation. Qualified business income (Qat) is defined as the ordinary income less ordinary deductions a terpayer earns from a "qualified trade or business" conducted in the United states by the taxpayer (e.g., from a sole proprietorahip). There are thrae limitations on the QBI deduction: an overall limitation (based on modified toxable income), another that applies to high-incorrie tarpayern, and a third that applles to certain types of sorvices businesses