Thad, a single taxpayer, has taxable income before the QBI deduction of $190,700. Thad, a CPA, operates

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Thad, a single taxpayer, has taxable income before the QBI deduction of $190,700. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2019, his proprietorship generates qualified business income of $150,000, W–2 wages of $125,000, and $10,000 of qualified property. What is Thad’s qualified business income deduction?

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South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts

ISBN: 9780357109168

43rd Edition

Authors: William A. Raabe, James C. Young, William H. Hoffman, Annette Nellen, David M. Maloney

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Question Posted: Sep 18, 2019 01:25 PM

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Thad, a single taxpayer, has taxable income before the QBI deduction of $190,700. Thad, a CPA, operates

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Thad has a specified services business Since his taxable income befo...View the full answer

South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts

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