Question
TP is a CPA. His net income from his accounting practice is $200,000. TP files a joint return with his wife who earns $300,000. Their
TP is a CPA. His net income from his accounting practice is $200,000. TP files a joint return with his wife who earns $300,000. Their taxable income is $460,000. The CPA practice pays wages of $100,000. What is TP's QBI deduction?
$40,000
$0
$50,000
$$32,000
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
3rd edition
78025427, 978-0077736460, 007773646X, 978-0078025426
