3. LO.6 In 2020, Henry Jones (Social Security number 123-45-6789) works as a freelance driver, finding customers

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3. LO.6 In 2020, Henry Jones (Social Security number 123-45-6789) works as a freelance driver, finding customers using various platforms like Uber and Grubhub.

He is single and has no other sources of income. In 2020, Henry’s qualified business income from driving is $61,200.

a. Compute Henry’s QBI deduction and his tax liability for 2020.

b. Complete Henry’s 2020 Form 8995 (Qualified Business Income Deduction Simplified Computation).

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Essentials Of Taxation Individuals And Business Entities

ISBN: 233160

1st Edition

Authors: Nellen/Young/Raabe/Maloney

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Question Posted: Jul 19, 2024 01:01 AM

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3. LO.6 In 2020, Henry Jones (Social Security number 123-45-6789) works as a freelance driver, finding customers

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Essentials Of Taxation Individuals And Business Entities

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