a single taxpayer, has taxable income before the QBI deduction of $197,000. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2018, his proprietorship reports net income of $157,600, W–2 wages of $118,200, and $9,200 of qualified property. If required, round any division to two decimal places. Round your final answer to the nearest dollar. What is Thad's qualified business income deduction?
a single taxpayer, has taxable income before the QBI deduction of $197,000. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2018, his proprietorship reports net income of $157,600, W–2 wages of $118,200, and $9,200 of qualified property. If required, round any division to two decimal places. Round your final answer to the nearest dollar. What is Thad's qualified business income deduction?
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 18CE
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, a single taxpayer, has taxable income before the QBI deduction of $197,000. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During 2018, his proprietorship reports net income of $157,600, W–2 wages of $118,200, and $9,200 of qualified property.
If required, round any division to two decimal places. Round your final answer to the nearest dollar.
What is Thad's qualified business income deduction?
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