FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marie , married taxpayer , operates a business as a sole proprietor. The business has no employees and no signicant assets. During 2018, the net

Marie , married taxpayer , operates a business as a sole proprietor. The business has no employees and no signicant assets. During 2018, the net income of Maries business (reported on Schedule C (form 1040)) amounts to $250k and her modied taxable income is $270k.

What is Maries QBI Deduction ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

On a piece of paper or fl ip chart, write the problem statement.

Answered: 1 week ago

Question

★★★★★
John Jamail says that he doesnt understand why companies have labor price variances because most union contracts or other binding agreements set wage rates that do not normally change in the short...

Answered: 1 week ago

Question

★★★★★
A bank quotes an interest rate of 9% pa with quarterly compounding. Note that another way of stating this rate is that it is an annual percentage rate (APR) compounding every quarter. Which of the...

Answered: 1 week ago

Question

★★★★★
Go back and quickly review the rules that the Sarbanes-Oxley Act of 2002 placed on the auditing profession as described in this chapter. What do you think are the two or three main purposes of these...

Answered: 1 week ago

Question

★★★★★
Activi Time 10 12 15 10 Predecessor

Answered: 1 week ago

Question

★★★★★
Matthews Produce harvests and sells Florida oranges. Matthews has hired you to determine its return on investment (ROI) based on both net book value (NBV) and gross book value (GBV). Financial data...

Answered: 1 week ago

Question

★★★★★
Crane Company offers a five-year warranty on its products. Crane previously estimated warranty costs to be 3% of sales but in 2025 revised this estimate to 1% due to process and quality control...

Answered: 1 week ago

Question

★★★★★
Theresa used her personal savings to purchase the rights to own and operate a Sonic Drive-In rather than starting her own fast-food restaurant. She is most likely to be a(n) Multiple Choice trade...

Answered: 1 week ago

Question

★★★★★
Sandolin Incorporated (SI) is a global, diversified firm whose shares trade on the major Canadian and U.S. stock markets. It owns numerous toll highways, several companies in the energy business, and...

Answered: 1 week ago

Question

★★★★★
ak-II IIIIGI I Iuu- W As a business consultant, you have been hired by a small .0 sneaker manufacturer whose goal is to produce sneakers with sustainably source material and ethical labor practices....

Answered: 1 week ago

Previous Question Next Question