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Margarita, a single taxpayer, operates a sole proprietorship that reports $100,000 of qualified business income after deducting salaries of $300,000 in 2020. The sole proprietorship
Margarita, a single taxpayer, operates a sole proprietorship that reports $100,000 of qualified business income after deducting salaries of $300,000 in 2020. The sole proprietorship is not a specified service business. Assume her taxable income before the QBI deduction is $175,000.Margarita's QBI deduction for 2020 is:
A. $60,000
B. $35,000
C. $0
D. $20,000
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