Question
Please show all your detail steps to calculate the answer(s) of each question.If you just show the answer(s) to each question without showing detail steps,
Please show all your detail steps to calculate the answer(s) of each question.If you just show the answer(s) to each question without showing detail steps, you will NOT earn any point for this assignment.
Question3. Susan, a single taxpayer ,owns and operates a bakery asa sole proprietorship. The business is not a specified services business.In 2020, the business pays $100,000inW2 wages, holds$150,000 of qualified property, and reports $350,000 of qualified business income(all of which is qualified business income). Susan has no other items of income or loss and will take the standard deduction.
AssumetheQBI amountis net of theself-employment taxdeduction.
What is Susan's qualified business income deduction?
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