ay, a single taxpayer, has $270,000 of business income from her public accounting practice that she operates as an LLC. She has $50,000 of employee wages, $20,000 of qualified property, and $230,000 of taxable income before the deduction for qualified business income (QBI). How much is Fay's QBI deduction?
ay, a single taxpayer, has $270,000 of business income from her public accounting practice that she operates as an LLC. She has $50,000 of employee wages, $20,000 of qualified property, and $230,000 of taxable income before the deduction for qualified business income (QBI). How much is Fay's QBI deduction?
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 27P
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Fay, a single taxpayer, has $270,000 of business income from her public accounting practice that she operates as an LLC. She has $50,000 of employee wages, $20,000 of qualified property, and $230,000 of taxable income before the deduction for qualified business income (QBI). How much is Fay's QBI deduction?
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