Alyssa's 2022 taxable income exceeds $170,050 and thus she is required to phase out her QBI deduction. What is the phase-out calculation? a. The greater of 50 percent of business wages or 25 percent of wages plus 2.5 percent of the unadjusted basis of qualifying property b. 50 percent of taxable income without the QBI deduction c. The lesser of 50 percent of business wages or 25 percent of wages plus 2.5 percent of
Alyssa's 2022 taxable income exceeds $170,050 and thus she is required to phase out her QBI deduction. What is the phase-out calculation? a. The greater of 50 percent of business wages or 25 percent of wages plus 2.5 percent of the unadjusted basis of qualifying property b. 50 percent of taxable income without the QBI deduction c. The lesser of 50 percent of business wages or 25 percent of wages plus 2.5 percent of
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 24P
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Transcribed Image Text:Alyssa's 2022 taxable income exceeds $170,050 and thus she is required to phase out her QBI deduction. What is the phase-out
calculation? a. The greater of 50 percent of business wages or 25 percent of wages plus 2.5 percent of the unadjusted basis of
qualifying property b. 50 percent of taxable income without the QBI deduction c. The lesser of 50 percent of business wages or 25
percent of wages plus 2.5 percent of
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