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Business, 15.04.2020 18:49 school4life110
Thad, a single taxpayer, reports taxable income before the QBI deduction of $180,500. Thad, a CPA, operates an accounting practice as a single member LLC (which he reports as a sole proprietorship). During the tax year, his proprietorship generates qualified business income of $144,400 after deducting self-employment taxes, W–2 wages of $108,300, and $8,800 of qualified property. Assume the QBI amount is net of the self-employment tax deduction. If required, round any division to two decimal places. Round your final answer to the nearest dollar.
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Thad, a single taxpayer, reports taxable income before the QBI deduction of $180,500. Thad, a CPA, o...
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