Question
Tim is married (MFJ) and reports taxable income of $500,000. His flowthrough QBI from his non-service industry sole proprietorship is $320,000. The business pays W-2
Tim is married (MFJ) and reports taxable income of $500,000. His flowthrough QBI from his non-service industry sole proprietorship is $320,000. The business pays W-2 wages to its employees of $110,000. What is Tims 199A deduction?
Group of answer choices
$ 9,000
None of these
$ - 0
$100,000
$22,000
$55,000
$64,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Volunteers Audit Guide For Churches And Other Non Profits A Step By Step Workbook For Internal Reviews Of Non Profit Organizations
Authors: Edd Breeden
1st Edition
1079582401, 978-1079582406
