Over what time period do corporations amortize purchased goodwill for tax purposes?

Multiple Choice

180 months

150 months

60 months

None of the choices is correct.

A nonqualified stock option will always create a permanent booktax difference in a given year if it vests during the year but is exercised in a later year.

True or Falce

True

False

?

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[The following information applies to the questions displayed below.] Kiyara (single) is a 50 percent shareholder of Jazz Corporation (an S Corporation). Kiyara does not do any work for Jazz Corporation. Jazz Corporation reported $346,000 of business income for the year (2021). Before considering her business income allocation from Jazz Corporation and the self-employment tax deduction (if any), Kiyaras adjusted gross income was $296,000 (all employee salary). Answer the following questions for Kiyara. (Leave no answer blank. Enter zero if applicable.)

a. Assuming the income allocated to Kiyara is qualified business income, what is Kiyaras deduction for qualified business income?