Question
Phil is a single taxpayer with a QBI eligible small business (not service) and his taxable income as measured for the QBI deduction is $197,500
Phil is a single taxpayer with a QBI eligible small business (not service) and his taxable income as measured for the QBI deduction is $197,500 in 2018. Phils QBI is $160,000 and his business paid wages of $60,000 in 2018 and has qualified property of $560,000. Compute Phil's QBI deduction.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Handbook Of Energy Audits
Authors: Albert Thumann, William J. Younger
6th Edition
0824709985, 978-0824709983
