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Please explain and show steps in solving this questions. Scott and Laura are married and will file a joint tax return. Scott has a sole

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Scott and Laura are married and will file a joint tax return. Scott has a sole proprietorship (not a "specified services" business) that reports net 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 $375,000 (this is also their modifted taxable income). What is their tentative QBI based on the W-2 Wages/Capital Investment Limit? 20,000 Determine their allowable QBI deduction. 75,000 X

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