Please answer part B

Barney is a managing LLC member treated as a general partner) of BG LLC and is allocated qualified business income (QBT) from BG of $800,000. (BG is not a "specified service trade or business.) Barney's Schedule K-1 reflects a $300,000 share of BG's W-2 wages and a $1,200,000 share of BG's UBIA (unadjusted basis immediately after acquisition). Barney's taxable income excluding capital gains is $600,000; and Barney has no income from REITs, publicly traded partnerships, or other qualified businesses. Refer to the per discussion in this chapter, the discussion in text Section 2-3, and the flowchart in Concept Summary 2.2. a. Calculate Barney's deduction under 5 199A for qualified business income. Barney's tentative QBI deduction (before considering any limitations) is sl 160,000 The tentative QBI for this trade or business is subject to the greater of two limitations. The first limitation is based on the LLC's W-2 wages is s 150,000 and the second limitation based on the LLC's W-2 wages and property basis is s 105,000 Therefore, based on these limitations is Barney's QBI deduction is si 150,000 In addition, barney's QBI deduction is subject to more limitation, which is based on his taxable income excluding capital gains As a result, Barney's final QBI deduction is s 120,000 b. How does Barney's 5 199A deduction affect his (1) cash flow. (2) basis in the LLC Interest, and (3) capital account? The QBI deduction require a corresponding outflow of cash. The deduction basis and it affect his capital account. affect Barney's