Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shellys proprietorship paid $30,000
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Shelly has $200,000 of QBI from her local jewelry store (a sole proprietorship). Shelly’s proprietorship paid $30,000 in W–2 wages and has $20,000 of qualified property. Shelly’s spouse earned $75,900 of wages as an employee, they earned $20,000 of interest income during the year and have no other income or deductions. Shelly and her spouse will file jointly and use the standard deduction. What is their QBI deduction for 2022?
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Related Book For
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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