Susan, a single taxpayer, owns and operates a bakery as a sole proprietorship. The business is not
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Susan, a single taxpayer, owns and operates a bakery as a sole proprietorship. The business is not a specified services business. In 2018, the business pays $100,000 in W-2 wages, holds $150,000 of qualified property, and reports $350,000 in net income (all of which is qualified business income). Susan has no other items of income or loss and will take the standard deduction. What is Susan’s qualified business income deduction?
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Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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