Question
Rahim owns and manages their single-member LLC, which provides a wide variety of financial servces to their clients. They are married and will file a
Rahim owns and manages their single-member LLC, which provides a wide variety of financial servces to their clients. They are married and will file a joint tax return with their spouse, Anya. In 2023, the LLC reports $150,000 of net income, W-2 wages of $60,000 and assets with an unadjusted basis of $40,000. Their taxable income before the QBI deduction is $142,500, same as their modified taxable income. What is their QBI deduction for 2023?
| a. | $35,000
| |
| b. | $0
| |
| c. | $28,500
| |
| d. | $30,000
| |
| e. | None of the choices presented are correct.
|
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Financial and Managerial Accounting Information for Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
6th edition
978-0078025761
