Question
Margarita operates a sole proprietorship that earns $100,000 of qualified business income after deducting salaries of $300,000.The sole proprietorship is not a specified service business.She
Margarita operates a sole proprietorship that earns $100,000 of qualified business income after deducting salaries of $300,000.The sole proprietorship is not a specified service business.She files a single tax return for 2019.Assume her taxable income before the QBI deduction is $175,000.Margarita's QBI deduction for 2019 is:
a.$-0-.
b.$60,000.
c.$20,000.
d.$80,000.
e.$35,000.
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Cornerstones of Managerial Accounting
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
2nd Canadian edition
978-0176721237, 978-0176530884
