Qualified Business Income (QBI) Deduction (LO 4.11)

Rob Wriggle operates a small plumbing supplies business as a sole proprietor. In 2022, the plumbing business has gross business income of $421,000 and business expenses of $267,000, including wages paid of $58,000. The business sold some land that had been held for investment generating a long-term capital gain of $15,000. The business has $300,000 of qualified business property in 2022. Rob's wife, Marie, has wage income of $250,000. They jointly sold stocks in 2022 and generated a long-term capital gain of $13,000. Rob and Marie have no dependents and in 2022, they take the standard deduction of $25,900.

The income threshold for QBI limitations starts at $340,100 for married filing jointly taxpayers.

a. What is Rob and Marie's taxable income before the QBI deduction? $fill in the blank

b. What is Rob and Marie's QBI? $fill in the blank

c. What is Rob and Marie's QBI deduction? $fill in the blank

Please explain. I greatly appreciate it :)