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Problem 6-37 (LO. 1) Suzanne, a single taxpayer, operates a printing business as a sole proprietor. The business has two employees who are paid a
Problem 6-37 (LO. 1) Suzanne, a single taxpayer, operates a printing business as a sole proprietor. The business has two employees who are paid a total of $90,000 during 2019. Assume that the business has no significant assets. During 2019, the business generates $150,000 of income, and Suzanne's taxable income before the QBI deduction is $155,000. a. What is Suzanne's qualified business income deduction? b. What is Suzanne's qualified business income deduction if the facts are the same except that the business income is $250,000 and Suzanne's taxable income before the QBI deduction is $270,000? Problem 6-37 (LO. 1) Suzanne, a single taxpayer, operates a printing business as a sole proprietor. The business has two employees who are paid a total of $90,000 during 2019. Assume that the business has no significant assets. During 2019, the business generates $150,000 of income, and Suzanne's taxable income before the QBI deduction is $155,000. a. What is Suzanne's qualified business income deduction? b. What is Suzanne's qualified business income deduction if the facts are the same except that the business income is $250,000 and Suzanne's taxable income before the QBI deduction is $270,000
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