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Please help and explain it step by step the problem below. Please note that (b) $15,000 and (c) $20,000 are not correct answers. Donna and
Please help and explain it step by step the problem below. Please note that (b) $15,000 and (c) $20,000 are not correct answers.
Donna and Mark are married and file a joint return reporting taxable income of $350,000. Donna owns a qualified S corporation that is not a specified service business. During the year, Donna incurs qualified business income of $75,000. Donna's share of wages paid by the business is $20,000. Assuming there is no qualified property factor, calculate her 20% QBI deduction. a. $0. b. $15,000. c. $20,000. d. $9,750.
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