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Renaldo is a single taxpayer who reports $80,000 of ordinary gross revenue and $50,000 of ordinary and necessart business expenses resultiong in a $30,000 of
Renaldo is a single taxpayer who reports $80,000 of ordinary gross revenue and $50,000 of ordinary and necessart business expenses resultiong in a $30,000 of net profits on his Schedule C from his law practice. He had no self- employment health deductions and of Self-Employment tax of $2,295.
Is this how much Renaldo's deduction QBI will be?
$10,000
$6,000
$5,541
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