Thank you for help me with this question. Bertha, a single individual, reports taxable income of $177,500, of which $130,000 is attributable to an S corporation that provides consulting services, after paying wages of $72,000 to employees (but not to Bertha). The entity made no acquisitions of depreciable property during the year. Calculate any 20% qualified business income deduction. Note: The deduction is limited for certain specified service-type S corporations where taxable income exceeds $157,500 for single individual. The phase-out range is $50,000 for individuals. Bertha's qualified business income deduction is $
Thank you for help me with this question. Bertha, a single individual, reports taxable income of $177,500, of which $130,000 is attributable to an S corporation that provides consulting services, after paying wages of $72,000 to employees (but not to Bertha). The entity made no acquisitions of depreciable property during the year. Calculate any 20% qualified business income deduction. Note: The deduction is limited for certain specified service-type S corporations where taxable income exceeds $157,500 for single individual. The phase-out range is $50,000 for individuals. Bertha's qualified business income deduction is $
Chapter11: Investor Losses
Section: Chapter Questions
Problem 46P
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Thank you for help me with this question.
Bertha, a single individual, reports taxable income of $177,500, of which $130,000 is attributable to an S corporation that provides consulting services, after paying wages of $72,000 to employees (but not to Bertha). The entity made no acquisitions of
Note: The deduction is limited for certain specified service-type S corporations where taxable income exceeds $157,500 for single individual. The phase-out range is $50,000 for individuals.
Bertha's qualified business income deduction is $
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