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Rose (a single taxpayer) is the owner of Americana, LLC. The LLC (a sole proprietorship) reports QBI of $900,000 and is not a specified services
Rose (a single taxpayer) is the owner of Americana, LLC. The LLC (a sole proprietorship) reports QBI of $900,000 and is not a specified services business. Americana paid total W-2 wages of $300,000, and the total unadjusted basis of property held by Americana is $3,200,000. Roses taxable income before the QBI deduction is $800,000 (this is also her modified taxable income). What is Roses QBI deduction for 2018? Please show how you calculated this.
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