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This question has been answered wrong multiple times for other people. It's not $38,330 or $34,243 or $42,015. Any help would be greatly appreciated! Thank
This question has been answered wrong multiple times for other people. It's not $38,330 or $34,243 or $42,015. Any help would be greatly appreciated! Thank you so much!
2 Part 2 of 2 Required information [The following information applies to the questions displayed below.) Jacob is a member of WCC (an LLC taxed as a partnership). Jacob was allocated $105,000 of business Income from WCC for the year. Jacob's marginal income tax rate is 37 percent. The business allocation is subject to 2.9 percent of self- employment tax and 0.9 percent additional Medicare tax. (Round your intermediate calculations to the nearest whole dollar amount.) 1.04 points eBook b. What is the amount of tax Jacob will owe on the income allocation If the income is qualified business Income (QB) and Jacob qualifies for the full QBI deduction? Print Tax owed if income is QBIStep by Step Solution
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