The term to describe taxable income before the qualified business income deduction and less dividends and capital gains: Qualified business income Modified taxable income Qualified trade or business Specified service business

The term to describe taxable income before the qualified business income deduction and less dividends and capital gains: Qualified business income Modified taxable income Qualified trade or business Specified service business

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter15: Taxing Business Income

Section: Chapter Questions

Problem 9DQ

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Question

The term to describe taxable income before the qualified business income deduction and less dividends and capital gains:

	Qualified business income
	Modified taxable income
	Qualified trade or business
	Specified service business

Definition Definition Increase in the value of a capital asset and the amount that is realized when the asset is sold off. A capital gain may be short-term or long-term depending on the tenure for which the asset is held.

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