Scott and Laura are married and will file a joint tax return. Scott has a sole proprietorship (not a specified services business) that reports net income of $350,000. The proprietorship pays W2 wages of $100,000 and holds property with an unadjusted basis of $1,200,000. Laura is employed by a local school district. Their taxable income before the QBI deduction is $450,000 (this is also their modified taxable income). Determine their QBI deduction for 2018.

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