Question

In: Accounting

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

Solutions

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.


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