Question
Luis, a single taxpayer, has taxable income before the QBI deduction of $184,900. Luis is a doctor who operates a medical practice as a single
Luis, a single taxpayer, has taxable income before the QBI deduction of $184,900. Luis is a doctor who operates a medical practice as a single member LLC (reporting as a sole proprietorship). During the year, his proprietorship generates qualified business income of $175,000, W-2 wages of $60,000, and has $10,000 of qualified property. What is Luis' qualified business income deduction?
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For Mowen/hansen/heitgers Cornerstones Of Managerial Accounting, 6th Edition, [instant Access]
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
6th Edition
1305280768, 9781305280762
