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Mason ( single ) is a 5 0 percent shareholder in Angels Corporation ( an S Corporation ) . Mason receives a $ 1 8

Mason (single) is a 50 percent shareholder in Angels Corporation (an S Corporation). Mason receives a $186,500 salary working full time for Angels Corporation. Angels Corporation reported $426,000 of taxable business income for the year (2023). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason's adjusted gross income is $186,500(all salary from Angels Corporation). Mason claims $63,000 in itemized deductions. Answer the following questions for Mason.
b. Assuming the business income allocated to Mason is income from a SPECIFIED SERVICE TRADE OR BUISNESS, what is Mason's deduction for qualified business income? Ignore the wage-based limitation when computing the deduction.
c. Assume the same facts as question (b), except that Angels Corporation reported $176,000 of taxable business income for the year. What is Mason's deduction for qualified business income? Ignore the wage-based limitation when computing the deduction.

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