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more info on which one? those are the whole questions Problem 9-45 (LO. 6) Scott and Laura are married and will file a joint tax

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more info on which one? those are the whole questions
Problem 9-45 (LO. 6) Scott and Laura are married and will file a joint tax return. Scott has a sole proprietorship (not a "specified services" business) that generates qualified business income of $300,000. The proprietorship pays W-2 wages of $40,000 and holds qualified property with an unadjusted basis of $10,000. Laura is employed by a local school district. Their taxable income before the QBI deduction is $386,600 (this is also their modified taxable income). Ja. Determine Scott and Laura's QBI deduction, taxable income, and tax liability for 2020. OBI deduction 40,000 X Taxable income 386,600 x Tax liability 72,943 X . After providing you with the original information in the problem, Scott finds out that he will be receiving a $6,000 bonus in December $020 (increasing their taxable income before the QBI deduction by this amount). Redetermine Scott and Laura's QBI deduction, taxable Income, and tax liability for 2020. QBI deduction 40,000 X Taxable income 352,600 x Tax liability 74,863 x c. What is the marginal tax rate on Scott's bonus? Enter the percent to one decimal place. 21 X % Problem 9-47 (LO. 6) Ben and Molly are married and will file jointly. Ben generates $300,000 of qualified business income from his single-member LLC (a law firm). He reports his business as a sole proprietorship. Wages paid by the law firm amount to $40,000; the law firm has no significant property. Molly is employed as a tax manager by a local CPA firm. Their modified taxable income is $386,600 (this is also their taxable income before the deduction for qualified business income). Determine their allowable QBI deduction for 2020. On May 31, 2016, Gustave purchases a new automobile for $28,000. He uses the car 90% for business and drives the car as follows: 5,000 miles in 2016, 14,000 miles in 2017, 11,000 miles in 2018 and 9,800 miles in 2019. Gustave is self-employed. Determine Gustave's basis in the business portion of the auto as of January 1, 2020, under the following assumptions: If required, round your computations to the nearest dollar. a. Gustave uses the automatic mileage method. Compute his basis adjustments for depreciation for each year. Click here to access the basis adjustment table. 2016: $ 2017: $ $018: $ 2019: $ Gustave's adjusted basis in the auto on January 1, 2020, is $ b. Gustave uses the actual cost method. [Assume that no 179 expensing is claimed and that 200% declining-balance cost recovery with the half-year convention is used. Assume the recovery limitation for 2016 is as follows: $3,160 (first year), $5,100 (second year), $3,050 (third year) and $1,875 (fourth year).] Compute his depreciation deductions for year. Click here to access the depreciation table. 2016: $ Problem 9-45 (LO. 6) Scott and Laura are married and will file a joint tax return. Scott has a sole proprietorship (not a "specified services" business) that generates qualified business income of $300,000. The proprietorship pays W-2 wages of $40,000 and holds qualified property with an unadjusted basis of $10,000. Laura is employed by a local school district. Their taxable income before the QBI deduction is $386,600 (this is also their modified taxable income). Ja. Determine Scott and Laura's QBI deduction, taxable income, and tax liability for 2020. OBI deduction 40,000 X Taxable income 386,600 x Tax liability 72,943 X . After providing you with the original information in the problem, Scott finds out that he will be receiving a $6,000 bonus in December $020 (increasing their taxable income before the QBI deduction by this amount). Redetermine Scott and Laura's QBI deduction, taxable Income, and tax liability for 2020. QBI deduction 40,000 X Taxable income 352,600 x Tax liability 74,863 x c. What is the marginal tax rate on Scott's bonus? Enter the percent to one decimal place. 21 X % Problem 9-47 (LO. 6) Ben and Molly are married and will file jointly. Ben generates $300,000 of qualified business income from his single-member LLC (a law firm). He reports his business as a sole proprietorship. Wages paid by the law firm amount to $40,000; the law firm has no significant property. Molly is employed as a tax manager by a local CPA firm. Their modified taxable income is $386,600 (this is also their taxable income before the deduction for qualified business income). Determine their allowable QBI deduction for 2020. On May 31, 2016, Gustave purchases a new automobile for $28,000. He uses the car 90% for business and drives the car as follows: 5,000 miles in 2016, 14,000 miles in 2017, 11,000 miles in 2018 and 9,800 miles in 2019. Gustave is self-employed. Determine Gustave's basis in the business portion of the auto as of January 1, 2020, under the following assumptions: If required, round your computations to the nearest dollar. a. Gustave uses the automatic mileage method. Compute his basis adjustments for depreciation for each year. Click here to access the basis adjustment table. 2016: $ 2017: $ $018: $ 2019: $ Gustave's adjusted basis in the auto on January 1, 2020, is $ b. Gustave uses the actual cost method. [Assume that no 179 expensing is claimed and that 200% declining-balance cost recovery with the half-year convention is used. Assume the recovery limitation for 2016 is as follows: $3,160 (first year), $5,100 (second year), $3,050 (third year) and $1,875 (fourth year).] Compute his depreciation deductions for year. Click here to access the depreciation table. 2016: $

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