32. LO.6 Ashley (a single taxpayer) is the owner of ABC LLC. The LLC (a sole proprietorship)...

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32. LO.6 Ashley (a single taxpayer) is the owner of ABC LLC. The LLC (a sole proprietorship)

generates QBI of $900,000 and is not a “specified services” business.

ABC paid total W–2 wages of $300,000, and the total unadjusted basis of property held by ABC is $30,000. Ashley’s taxable income before the QBI deduction is

$740,000 (this is also her modified taxable income). What is Ashley’s QBI deduction for 2021?

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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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32. LO.6 Ashley (a single taxpayer) is the owner of ABC LLC. The LLC (a sole proprietorship)...

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Essentials Of Taxation Individuals And Business Entities

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