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In 2019, Sam and Betty, each single, both generate sole proprietor income of $240.000. Sam's income is generated from a wholesale business whereas Betty's is
In 2019, Sam and Betty, each single, both generate sole proprietor income of $240.000. Sam's income is generated from a wholesale business whereas Betty's is eamed from her law practice. Neither has any employees or qualified assets. Both claim the standard deduction and have other income equal to the standard deduction amount a. Sam can obtain a Qat deduction, but Betty cannot because of the taxable income level and law practice is a specified service business b. Both Sam and Betty will have a 1 deduction of $48,000. c. Neither Sam nor Betty will generate a Ordeduction due to their taxable income levels. d. None of these choices are correct
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