Question
Please show all steps on how to get answer. Thad, a single taxpayer, has taxable income before the QBI deduction of $193,300. Thad, a CPA,
Please show all steps on how to get answer.
Thad, a single taxpayer, has taxable income before the QBI deduction of $193,300. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2020, his proprietorship generates qualified business income of $150,000, W-2 wages of $125,000, and $10,000 of qualified property. Assume the QBI amount is net of the self-employment tax deduction.
What is Thad's qualified business income deduction?
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Management Information Systems Managing the Digital Firm
Authors: Kenneth C. Laudon, Jane P. Laudon
15th edition
134639715, 978-0134639710
