Problem 9-44 (LO, 6) Ben and Molly are married and will file jointly. Ben generates $300,000 of qualified business income from his single-member Lle (a law firm). He reports his business as a sole proprtetorship. Wages paid by the law firm amount to 540,000 ; the low firm has no significant property. Molly is employed as a tax manager by a focal CPA firm. Their modified taxable income is 3400,100 (this is also their taxable income before the deduction for qualified business income). Determine their allowable Q8t deduction for 2022. x Theck My Wirk Whth the reduction in the corporate income tax rate to 21 percent in 2018 , Congress needed to provide a means of reducing the taxes on businesses that operate in different business forms. Congress accompshed this with the creation of the deduction for qualified business income (5) 199A). Qualifed business incorne (Q8I) is defined as the ordinary income less ordinary deductions a taxpayer earns from a "qualified trade or business" conducted in the United States by the taxpayer