What is his QBI deduction?
Chapter22: S Corporations
Section: Chapter Questions
Problem 38P
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1
Transcribed Image Text:Raj owns a financial consulting business as a single-member LLC. He is a single, cash basis, calendar-year taxpayer. For the year, he
had the following information:
Ordinary income from LLC
$100,000
Taxable income
$115,000
Modified taxable income
$110,000
W-2 wages paid to employees $40,000
Qualified property basis
$10,000
SE tax deduction
$7,650
SE health insurance deduction $10,000
What is his QBl deduction?
$16,470
O s0
$18,470
$22,000
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ISBN:
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Author:
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Publisher:
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