Calculate the taxpayer's 2019 qualifying business income deduction for a qualified trade or business: Filing Status:...

Calculate the taxpayer's 2019 qualifying business income deduction for a qualified trade or business:

Filing Status: Single

Taxable Income: $180,000

W-2 Wages: $20,000

Net Capital Gain: $0

Qualified Business Income: $80,000

Expert Solution

Qualified business income deduction allows the business owners to deduct upto 20% of their qualified business income. It is done for taxation purpose.

ekkarill92 answered 11 months ago

Is " qualified business income deduction" the same as "Itemized deduction", and do you feel C...

Is " qualified business income deduction" the same as "Itemized deduction", and do you feel C Corporations should quality for this deduction.

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