Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had net business income of $90,000 from his law practice (net of the associated for AGI self-employment tax deduction). His taxable income before the deduction for qualified business income is $100,000.

Required:

1. Calculate Roquans deduction for qualified business income.
2. Assume the same facts provided above, except Roquans taxable income before the deduction for qualified business income is $300,000.

This year, Major Healy paid $36,750 of interest on a mortgage on his home (he borrowed $735,000 to buy the residence in 2015; $835,000 original purchase price and value at purchase), $5,500 of interest on a $110,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $9,250 of interest on a mortgage on his vacation home (borrowed $185,000 to purchase the home in 2010; home purchased for $462,500). Major Healys AGI is $220,000. How much interest expense can Major Healy deduct as an itemized deduction?