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Posted on Jul 28, 2024

Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly's proprietorship paid $30,000 in W2 wages and has $20,000 of qualified

Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly's proprietorship paid $30,000 in W2 wages and has $20,000 of qualified property. Shellys spouse earned $74,000 of wages as an employee, they earned $20,000 of interest income during the year, and they will be filing jointly and using the standard deduction.

What is their QBI deduction for 2018?

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