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Taxpayer and Spouse filed Married Filing Jointly. They have taxable income before the Sec. 199A deduction of $600,000. During the year, Taxpayer and Spouse recognize
Taxpayer and Spouse filed Married Filing Jointly. They have taxable income before the Sec. 199A deduction of $600,000. During the year, Taxpayer and Spouse recognize income from qualified trades and businesses of $250,000. There are allocated W-2 wages of $45,000 and UBIA of $700,000. There are no carryforwards to release. Based on this data, what is the tentative Sec. 199A deduction for Taxpayer and Spouse?
| $0 | ||
| $50,000 | ||
| $4,500 | ||
| $5,750 |
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