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Tara and Todd are married. Tara is a lawyer who operates her practice as a sole proprietorship. Todd works for a local architecture firm.
Tara and Todd are married. Tara is a lawyer who operates her practice as a sole proprietorship. Todd works for a local architecture firm. Their taxable income before the QBI deduction is $404,200, this is also their modified taxable income. Tara has $150,000 of QBI from her law firm. She paid $40,000 in wages and has no qualified business property. What is their QBI deduction for the year? Answer:
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South-Western Federal Taxation 2022 Individual Income Taxes
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
45th Edition
0357519078, 978-0357519073
