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Q9 - Please specify! Sally's only source of income in 2023 is $600,000 from her share of a partnership that owns and operates a restaurant.
Q9 - Please specify!
Sally's only source of income in 2023 is $600,000 from her share of a partnership that owns and operates a restaurant. Sally's share of the partnership's W-2 wages was $100,000 for the year and the partnership did not use any property in its business (and the salary expense has already been deducted in calculating Sally's $600,000 income). a. Calculate Sally's Qualified Business Deduction for 2023. b. How would your answer change if Sally's $600,000 distributive share of partnership income was from her law firm and Sally's share of W-2 wages was $200,000Step by Step Solution
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