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Sookie, a single taxpayer has business net income totaling $ 200,000 from owning 100% of a S Corporation that operates a retail liquor store. Sookie's
Sookie, a single taxpayer has business net income totaling $ 200,000 from owning 100% of a S Corporation that operates a retail liquor store. Sookie's taxable income this year (before the 5 199A deduction) is $475,000. The business had $ 100,000 of qualified business property and paid $ 30,000 in wages. Which of the following statements is correct? Sookle may claim a qualhed business income deduction of $32.500 Sookie may claim a qualbed business income deduction of $25.000 Sookie may claim a qualihed business income deduction of $15.000 Sookie is not rige for the qualhed business income deduction since it is not a manufacturing business Some may daina ulhed business income deduction of $40.000
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